Gautam Adani welcomes SC verdict in Hindenburg report case; says 'Truth will prevail'

Gautam Adani welcomes SC verdict in Hindenburg report case; says 'Truth will prevail'

After hearing the Adani v. Hindenburg case on Thursday, the Supreme Court ordered SEBI to look into possible violations of Section 19 of the SEBI rules and possible stock price manipulation.

FPJ Web DeskUpdated: Thursday, March 02, 2023, 12:06 PM IST
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Gautam Adani welcomes SC verdict in Hindenburg report case; says 'Truth will prevail' |

The Adani Group chairman, Gautam Adani, took to Twitter after the Supreme Court's (SC) verdict and welcomed the SC's order and said that the 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." tweeted Gautam Adani as the SC sets up an expert committee and directed SEBI to investigate if there was a violation of SEBI rules and manipulation of stock prices.

Supreme court verdict

After hearing the Adani v. Hindenburg case on Thursday, the Supreme Court ordered SEBI to look into possible violations of Section 19 of the SEBI rules and possible stock price manipulation. The Supreme Court ordered SEBI to launch a probe and provide a status report within two months.

6 member committee set up

The Supreme Court set up a six-member committee, headed by former apex court judge Justice AM Sapre, to deal with the issue of regulatory mechanisms to protect investors.

Supreme Court had rejected Center's sealed cover request panel

The Supreme Court of India rejected the Center's sealed cover request on a panel to enhance stock market regulatory measures in the aftermath of the Adani-Hindenburg conflict. The bench refused to accept the names in an envelope in order to maintain transparency of the procedure and safeguard Indian investors from volatility.

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