Tuesday, June 6, 2023

Adani Group: Supreme Court panel gives clean chit to Adani Group

Adani Group: A committee of experts appointed by the Supreme Court said that Adani Group is not involved in artificial trading. The panel rejected Hindenburg’s report. Adani Group has basically said that it has not committed any violations.

Adani Group: Supreme Court panel gives clean chit to Adani Group

New Delhi: The Supreme Court panel rejected the Hindenburg report on Adani Group. The expert committee said that the Adani company was not involved in any violation. The Supreme Court-appointed panel said in its report that there was no regulatory failure either. The panel revealed that a clean chit is being given to the Adani group. But the Supreme Panel said that SEBI should investigate further and after that it would have complete confidence.

The Supreme Court-appointed expert committee has revealed that the Adani group has not manipulated prices and artificially shown that share prices have gone up. The panel said due procedures were followed to attract retail investors. The panel said that the steps taken by Adani have increased the confidence of the stock market in the company. At present, the shares of the company are said to be stable.

The committee noted that no artificial trading took place and no such element was detected. The committee said that it did not find any irregularities related to the trade. There was no violation in public shareholding and attracting investment from related parties. The committee noted that there was no regulatory lapse in the case of the shares.

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