The Indian Supreme Court has found no regulatory failure and no evident pattern of manipulation in relation to allegations against Bravus parent company, Adani Group.
The investigation and subsequent court hearings have been ongoing since January 2023 after a report was published that alleged the company manipulated its stock prices.
The finding was handed down by an expert six-member committee appointed by the Indian Supreme Court.
“At this stage it would not be possible for the committee to conclude there was a regulatory failure around the allegation of price manipulation,” the committee said in its report.
Bravus said it was pleased with the findings.
“It remains business as usual at our port, rail and mine operations, which are exporting Australian coal, mined at the Carmichael mine and by our customers in the Bowen Basin, to the world,” Bravus said in a statement.
“As a group of companies, Adani is the world’s largest solar company and is investing heavily in research and development of other alternative generation sources.”
Bravus also recently helped to expand the White Cloud Foundation’s Meals for Mums program into Rockhampton as part of the company’s enduring commitment to regional Queensland communities.
Bravus Mining and Resources head of community Kate Campbell said the business was proud to support White Cloud Foundation’s work in regional Queensland.
“We’re proud to operate in regional Queensland and we always seek to back our local communities,” she said.
“We recognise that many people who live in regional areas experience challenges in mental health and face additional difficulties accessing help.”