Mumbai: Gautam Adani on Thursday welcomed the Supreme Court order of a time-bound investigation saying this will bring finality and truth will prevail. US-based short seller Hindenburg Research has levelled allegations against Adani Group of fraudulent transactions and share price manipulation.
Gautam Adani, shortly after a bench headed by Chief Justice D Y Chandrachud passed the order, tweeted: “The Adani Group welcomes the order of the Supreme Court. It will bring finality in a time bound manner. Truth will prevail.”
The apex court on Thursday asked markets regulator Sebi to complete an investigation into US short-seller Hindenburg’s allegations against Adani Group within two months. It also ordered constituting an expert committee to review regulatory mechanism in view of the rout in share prices of Adani firms triggered by the Hindenburg allegations.
The committee will be headed by retired judge Justice A M Sapre. The committee conducting the investigation will also include former judges OP Bhat and JP Devdatt. The court also appointed Somasekharan Sundaresan, veteran banker KV Kamath, and co-founder of Infosys Nandan Nilekani to the committee.
The Supreme Court was hearing petitions pertaining to the Hindenburg report including on the constitution of the committee relating to regulatory mechanisms to protect the investors.
