Gautam Adani, the chairman of Adani Group, expressed gratitude and confidence following the Supreme Court's verdict regarding the Adani-Hindenburg case, asserting that truth has prevailed. Adani conveyed his appreciation to those who supported the group, affirming their ongoing commitment to India's growth story.
Adani, in response to a bench consisting of CJI DY Chandrachud, Justice JB Pardiwala, and Justice Manoj Misra rejecting the SIT probe into allegations against the group, emphasized the vindication of truth. He highlighted the continuation of the group's contribution to India's development trajectory.
The Supreme Court's ruling emphasized the completion of SEBI's probe in 20 out of 22 cases, stating no grounds exist to transfer the case from SEBI to an SIT. The apex court directed SEBI to conclude its investigations within three months and dismissed assertions of SEBI's lackadaisical approach.
Regarding allegations against the Adani group, the court noted that both the government and SEBI would investigate the matter, highlighting no valid grounds for directing SEBI to revoke its amendments on FPI and LODR.
Congress MP Manish Tewari, while acknowledging he had not reviewed the verdict, expressed concern over the delayed investigation. He emphasized that since the Hindenburg report surfaced a year ago, SEBI's alleged slow progress indicated a lackadaisical approach. Tewari highlighted this issue raised in the Parliamentary Standing Committee of Finance, emphasizing the need for a more proactive stance from SEBI.
