Big relief to Adani Group in Hindenburg case, Supreme Court’s expert committee did not find evidence of rigging in investigation

Photo: PTI Gautam Adani

Hindenburg affair Adani Group has got a big relief. The expert committee constituted by the Supreme Court has not found any evidence in the investigation against the group. The Supreme Court’s expert committee has said in its report that no evidence has been found of manipulation in the share price by Adani Group. The inquiry committee has cited 4 reports of SEBI. According to the information received, this report has been submitted to the Supreme Court. Along with this, the expert committee has said in its investigation report that Adani Group had given all the necessary information to the stock exchange. The Group’s shares were already under the supervision of Additional Surveillance Measures. Let us tell you that in the report given by SEBI to ED, no allegation has been made against Adani Group. This is news of great relief for Adani Group.

There was a jump in the shares of group companies

After getting relief to the Adani Group in the report of the inquiry committee constituted by the Supreme Court, the shares of group companies are witnessing a jump. Out of 10 companies listed in the stock market, only 1 is seeing a decline but 9 are seeing a boom. Adani Enterprise is trading at Rs 1931.60 with a gain of 2.20 per cent. At the same time, a gain of 3.27 is being seen in Adani Power. Adani Transmission, Adani Wilmar, Ambuja Cement, NDTV are also seeing good growth.

Hindenburg had made many serious allegations against the group

Let us tell you that in January this year, the American financial research and investment company Hindenburg accused the Adani group that some of these funds based in Cyprus and Mauritius were linked to Adani, which were used to manipulate the share prices of group companies. . However, the Adani Group denied all the allegations. After that the inquiry committee was constituted.

SEBI was given three months time

The Supreme Court has given three months till August 14 to the Securities and Exchange Board of India (SEBI) to complete the probe into allegations of rigging of stock prices by a Gautam Adani-led group.Chief Justice of India DY Chandrachud A bench headed by SEBI ordered SEBI to file a report on the probe into allegations of rigging of share prices by the Gautam Adani-led group. Let us tell you that on March 2, the Supreme Court had ordered the formation of a six-member committee to investigate the allegations of rigging share prices by the Gautam Adani-led group. The allegations against the business group were made by American short-seller company Hindenburg in its report. The Supreme Court will further hear the Adani Hindenburg dispute case on July 11. The bench said, “The time given to submit its report to SEBI is extended till August 14, 2023.

Latest Business News

Related articles