The Supreme Court ordered Sebi to conclude the investigation on the Adani Group-Hindenburg Research case within 2 months and submit a report. The SC has set up a 6-member expert committee to review the extant frame to protect Indian investors
The 6-member expert committee will be led by Justice AM Sapre and comprises Justice KP Devdatt, KV Kamat, Nandan Nilekani, Somasekhar Sundaresan and OP Bhatt
Adani Group Chairman Gautam Adani said, “The Adani Group welcomes the order of the Hon'ble Supreme Court. It will bring finality in a time bound manner. Truth will prevail.” The Adani Group has denied all allegations made by the Hindenburg Research report
The bench hearing the Adani-Hindenburg case comprises Chief Justice of India DY Chandrachud, Justice PS Narasimha and Justice JB Pardiwala
Shares of Adani Power, Adani Transmission, Adani Green Energy and Adani Wilmar were locked in 5% upper circuits on Thursday
Shares of Adani Enterprises, ACC, NDTV, Adani Ports and Adani Total Gas were trading 1-4% higher on BSE on Thursday
Experts believe that D-Streets' investors will get confidence from this Supreme Court verdict and it will be encouraging in the long run
Shares of Adani Ports & Special Economic Zone, Adani Green Energy and Adani Transmission saw some major bulk deals in the pre-opening session on Thursday
Hindenburg Research, on January 24, published a report accusing the Adani conglomerate of accounting fraud, stock manipulation and other malpractices