New Delhi (03.01.2023): In a much-awaited case, the Supreme Court on Wednesday delivered its verdict on petitions seeking an investigation into allegations against Adani Group companies published in US-based Hindenburg Research report in January 2023.
The Supreme Court ruled that it cannot enter into the domain of the regulatory regime and that the report by Hindenburg “or anything like that” cannot become the basis of a separate probe. It directed the Securities and Exchange Board of India (SEBI) to go ahead and continue its probe as per the law.
Senior advocate Mukul Rohatgi says, "It is the complete exoneration of the Adani group. The Court has said that it trusts SEBI & it does not warrant any CBI or and police probe as demanded in 4 petitions. No material was found to warrant any other investigation."
“Since the Supreme Court has taken a view that the report on 20 out of 22 transactions is clear, I think it is a clean chit to Adani definitely, and there is no doubt about that," Siddharth Luthra, the advocate of Adani Group, said.
Chairperson of Adani Group, Gautam Adani tweeted on X, "The Hon'ble Supreme Court's judgement shows that: Truth has prevailed. Satyameva Jayate. I am grateful to those who stood by us. Our humble contribution to India's growth story will continue. Jai Hind."
