SC panel gives Adani Group clean chit in Sebi violations pointed through Hindenburg report

Ten News Network

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New Delhi, 19th May 2023: The Supreme Court-appointed panel has delivered a clean chit to the Adani Group in the controversy that the group found itself over the allegations that came to light through the Hindenburg report.

The panel ascertained that there was no regulatory failure on behalf of the market regulator Securities and Exchange Board of India (SEBI), and added that there was no price manipulation on the part of the Adani Group.

‘Measures taken by the group instead helped the investors to build confidence in the stock’. He added that they played an important role in stabilising the stocks following their fluctuation in the past few months.

The panel further submitted its reports to the Supreme Court, saying that it found no pattern for artificial trading or wash trades among the parties.

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