New Delhi, Sept. 18 -- India's capital markets regulator on Thursday dismissed US-based short seller Hindenburg Research's allegations of stock manipulation against billionaire Gautam Adani and his companies.

In two separate orders, the Securities and Exchange Board of India (Sebi) said it could not 'establish' the allegations against Adani and Adani Group companies, including Adani Ports and SEZ Ltd and Adani Power Ltd.

The regulator also mentioned that, as no establishments were made, there would be no penalty for Hindenburg's allegations.

"Accordingly, having considered the matter holistically, I find that the allegations made against the noticees in the show cause notices are not established. Considering the above, the question of ...