Supreme Court gives clean chit to Adani Group

The Supreme Court's expert committee has given a clean chit to the Adani Group in the Adani-Hindenburg case. The expert committee had submitted its report to the Supreme Court, this report has been made public today. The expert committee has clearly stated in its report that 'it is not possible to attribute regulatory failure to the fluctuations of shares at the moment'.

The expert panel said that our job was not to check whether the price rise was justified or not, the task of the committee was to find out if there was any regulatory failure.

"It is quite clear that SEBI was actively watching the market movements and price fluctuations. The Committee is of the view that all such investigations should be completed in a time-bound manner.

After the report, the SC
Committee has praised the Adani Group in the report. It has been said in the report that the Adani Group took all necessary steps to provide relief to retail investors. The report clearly states that after the Hindenburg report came on January 24, the shareholding of retail investors in Adani Group shares increased. The steps taken by the Adani Group have helped build confidence in the group's shares and now the group's shares are stable.

Prior to the
Hindenburg report, some entities created short positions in Adani Group shares and made huge profits from the fall in shares after the report became public. The committee has said that the shortselling done after the Hindenburg report needs to be investigated.

The
SC committee report also said that the investigation did not find evidence of any violation or regulatory failure in the minimum public shareholding case.

Watch: Adani Group gets clean chit from SC committee in Hindenburg case