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ADANI GETS SC'S VOTE OF CONFIDENCE
The Morning Standard
|January 04, 2024
No ground to transfer Sebi’s probe against conglomerate to SIT Regulator to complete probe within 3 months
In a major relief to the Adani Group, the Supreme Court on Wednesday rejected a batch of pleas seeking a court-monitored probe into allegations of stock-price manipulation and other irregularities levelled by US-based short-seller Hindenburg against the group.
In its 46-page verdict, the SC said there were no grounds to transfer the probe from Sebi to a special investigation team. It also directed the stock markets regulator to complete its ongoing investigation into the allegations within three months.
Hindenburg had in its report released in January 2023 alleged that the Adani Group had been manipulating stock prices of its group firms. Following this, the share value of various Adani firms plunged.
Dit verhaal komt uit de January 04, 2024-editie van The Morning Standard.
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