Gautam Adani and his group of companies have welcomed the order of the Supreme Court for investigation on the Hindenburg report and said ‘Truth will prevail’.
The Supreme Court has set up an expert committee of six-member headed by former apex court judge AM Sapre to investigate the issue arising from the Hindenburg report on Adani Group of companies.
The expert group includes former judge AM Sapre, KV Kamath, Nandan Nilekani, Somasekharan Sundaran, OP Bhat and JP Devdatt. In addition to this SC has directed Centre, financial statutory bodies and the SEBI to investigate whether there has been any violation of stock prices. They need to submit the report within two months to the expert panel.
The Adani Group welcomes the order of the Hon’ble SC. The Group’s chairperson Goutam Adani tweeted in “The Adani Group welcomes the order of the Hon’ble Supreme Court. It will bring finality in a time bound manner. Truth will prevail.”
The Adani Group welcomes the order of the Hon'ble Supreme Court. It will bring finality in a time bound manner. Truth will prevail.— Gautam Adani (@gautam_adani) March 2, 2023
Over the past few months the share prices of Adani Group of companies are significantly going down. According to the Hindenburg report the company is involved in stock manipulation and fraud.
After the SC’s decision all the ten stocks of the Adani Groups were trading in the green today.