The Supreme Court’s verdict on Adani-Hindenburg row is finally out. In its verdict the court said there wasn’t any ground to order a probe by an SIT or CBI into allegations against the Adani Group. The court also ordered capital market regulator SEBI to complete its probe within 3 months.
On Wednesday, January 3, billionaire Gautam Adani said “truth has prevailed” in the Supreme Court ruling. He spoke hours after the Supreme Court ruled that the case does not merit a Special Investigation Team (SIT) or other inquiry body.
Adani wrote on Twitter (now X): Truth triumphed in the Supreme Court’s ruling. Satyameva Jayate. Thanks to all who supported us. Our modest contribution to India’s growth will continue. Jai Hind.
The Supreme Court ordered the SEBI to finish two Adani group allegations cases within three months.
A court led by Chief Justice D.Y. Chandrachud noted that SEBI has concluded its investigations in 22 of 24 Adani group charges, holding that it cannot regulate SEBI’s power of investigation.
Conclusion
Industrialist Gautam Adani applauded the Supreme Court’s ruling that “truth has prevailed” in a case against his group, saying the facts do not necessitate a Special Investigation Team or other inquiry agency. Within three months, SEBI must finish investigating two cases, the court ordered.
