In the Hindenburg case, the Supreme Court-appointed committee has given a clean chit to the Adani Group. The court has said that prima facie no law has been violated, and SEBI was fully aware of the change in prices. The report of the committee appointed to investigate the Hindenburg case has come out in public that the report states that “The Adani Group did not affect the prices of shares in any way.” According to the committee’s report, there is also no evidence of illegal investment in Adani Group companies, no rules have been violated in the investment from the concerned party.
The Supreme Court committee has said that the Adani Group disclosed the names of the owners who received the benefits, and SEBI has also not falsified the information given by the Adani Group. According to the Supreme Court committee, the Adani Group also followed the law regarding minimum public shareholding.
The Supreme Court-appointed committee has also said that retail investment in the Adani Group has increased since the report of American shortseller Hindenburg came out, and the group had also tried to give relief to investors after the Hindenburg report came out. The committee claims that the shortsellers made profits after the Hindenburg report came out, and the SC committee has recommended an inquiry into it.
However, the Supreme Court committee has also said that all the findings of their investigation report are not final, because SEBI’s investigation in this matter is going on, and its report is yet to come.
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