The Supreme Court has constituted an expert committee on the Adani-Hindenburg dispute. Retired judge Justice AM Sapre will be the chairman of this committee. The Supreme Court has asked SEBI to investigate the entire matter.
Welcoming the Supreme Court’s order on the Hindenburg report on the Adani group, Gautam Adani has said that it will gradually expose everything. Victory will be the victory of truth.
Let us tell you that the Supreme Court has constituted an expert committee and directed SEBI to investigate whether there was violation of SEBI rules and manipulation of stock prices.
The Adani Group welcomes the order of the Hon'ble Supreme Court. It will bring finality in a time bound manner. Truth will prevail.
— Gautam Adani (@gautam_adani) March 2, 2023
Big relief to Adani from Supreme Court
The Supreme Court today constituted an expert committee on the issue arising out of the Hindenburg Research Report on Adani group companies. The committee will consist of six members, which will be headed by former apex court judge Justice AM Sapre. Further, the Supreme Court has directed SEBI to investigate whether there has been a violation of Section 19 of the SEBI regulations, whether there has been any manipulation of stock prices.
The Supreme Court was hearing petitions related to the Hindenburg Report. The court said that in any case the interests of the investors should be protected. The apex court, while reserving its order on February 17, had sought members of the committee dealing with regulatory mechanism for the protection of investors in the backdrop of the Adani-Hindenburg case. The Supreme Court refused to accept the suggestion given by the Center in a sealed cover and said that it wanted complete transparency in the matter.