Adani Group was given a clean chit by the Supreme Court Expert Committee

Amaravati: Supreme Court expert committee gives clean chit to Adani group on Hindenburg allegations. The Supreme Court Committee, which examined the report given by the Hindenburg Institute of Germany (making black oil, creating fraudulent reports and buying shares) alleging that the Adani Group is committing irregularities, has clarified that the Adani Group has not committed any violations. The committee appointed by the Supreme Court said that it is not possible to say that the Adani group company has crossed the SEBI control. It has been stated that there was no manipulation of share prices from Adani Group. The Supreme Court Committee has upheld the measures taken by the Adani Group to protect the interests of retail investors after the Hindenburg Report. Adani Group has taken necessary steps to protect the interests of retail investors, said the Supreme Court’s expert committee. The mitigation measures taken by the Adani Group have helped boost confidence in the stock market, it said. Adani Group has made it clear that with these measures, the stocks are stable and there is no evidence of any irregularities in the business. Adani Group is of the view that it has not committed any violations in terms of minimum public shareholding and investments from related parties. It also said that there is no regulatory failure regarding minimum public shareholding. Adani shares on the path of profits:- In the wake of the Hindenburg allegations, the Supreme Court formed a committee headed by retired judge Justice AM Sapre in March to investigate the Adani group of companies. OP Bhatt, Justice JP Devdhar, KV Kamath, Nandan Nilekani and Somasekhar Sundaresan were included as members. The committee submitted its report to the Supreme Court recently. These reports were placed in the public domain by the Supreme Court on Friday. Adani Enterprises stock prices skyrocketed after the Supreme Court expert committee report was made available to the public. Adani Group shares gained heavily in the afternoon session.

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