Supreme Court (File Photo)Image Credit source: Social Media
In the matter of Adani Group and Hindenburg dispute, the expert committee has presented its report in the Supreme Court. The Expert Committee in its report said that there is a need for timely completion of all investigations in the matter of Adani Group and Hindenburg controversy, the Expert Panel cannot conclude at present that there has been failure of the regulator SEBI in the allegation of price manipulation . The special committee of the Supreme Court said that India’s market regulator SEBI has presented findings in its investigation regarding the ownership of the entities of the group.
The committee says that after January 24, 2023, the investment of retail investors in Adani’s shares increased and on the basis of this, it was concluded that the Indian stock market was not completely unstable. It has been said in the report, the fall in Adani’s shares was actually huge, which has happened due to the publication of the Hindenburg Report.
The Expert Committee said in its report that the Expert Panel cannot at present conclude that SEBI has failed in the allegation of price manipulation. The shocking report by a US short seller accused Gautam Adani’s port-to-energy empire of stock manipulation, among other fraud allegations.
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SEBI got more time to investigate
The Supreme Court has given SEBI time till August 14, 2023, to present the investigation report in the case of Adani Group and Hindenburg controversy. So that the investigation of the allegations made by the US-based short seller firm Hindenburg Research against Adani Group can be completed. Earlier, the Supreme Court had given SEBI two months time. But SEBI had asked for another 6 months for the complete investigation, but the Supreme Court has given SEBI only 3 months for the complete investigation.
