Adani Group Chairman Gautam Adani thanked those who stood by the conglomerate during the Hindenburg short-selling case as the Supreme Court disposed of the petitions in the matter.
"The Hon'ble Supreme Court's judgement shows that: Truth has prevailed," Adani Group Chairman Gautam Adani said in a post on X after the Supreme Court verdict Wednesday.
"I am grateful to those who stood by us. Our humble contribution to India's growth story will continue," Adani said.
The Supreme Court reposed confidence in SEBI's powers and ruled that petitioners could not provide enough material to transfer the Adani-Hindenburg probe to the Central Bureau of Investigation or a special investigation team.
The top court also disposed of the petitions, finding that the "threshold for a transfer of investigation" has not been made out. The market regulator has been asked to wrap up the pending investigation in the matter within three months.
Key Highlights Of Supreme Court Verdict:
Limited power of Supreme Court to enter into the regulatory policy of SEBI.
No valid grounds to revoke amendments to FPI regulations.
SEBI to conclude remaining investigations within three months.
SEBI should take its investigations to the logical conclusion in accordance with law.
The facts of this case do not warrant the transfer of investigation from SEBI to either SIT or CBI.
Petitioners reliance on DRI letter is misconceived as the issue has already been settled.
The allegation of conflict of interest against members of the Committee are unsubstantial, unsubstantiated and addicted.
The Union government and SEBI shall constructively consider the suggestions of the expert committee.
SEBI and Union government to probe whether the losses to investors due to short selling involved any infraction of law.
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