Adani-Hindenburg The case will be heard in the Supreme Court today, a 6-member committee was formed regarding this matter. The committee has submitted its report in a sealed cover to the court on 8th May. Now it remains to be seen whether the committee has submitted the final report before the court in a sealed cover or has sought more time for investigation.
SEBI asked for 6 months time
At the same time, SEBI had asked for 2 months time to investigate Adani’s shares, but on April 29, SEBI asked for another 6 months. SEBI says that it will take 15 months to investigate this entire episode, but efforts will be made to finish it in 6 months.
Report submitted by the committee headed by retired judge AM Sapre
A total of 4 PILs were filed in the Adani-Hindenburg case. The first hearing in the Supreme Court regarding the matter was held on February 10, after which the Supreme Court constituted a 6-member committee on March 2. The committee, headed by retired judge AM Sapre, comprises Justices JP Deodhar, OP Bhat, MV Kamath, Nandan Nilekani and Somashekar Sundaresan.
Supreme Court’s instructions regarding the investigation
On this dispute, the Supreme Court had given several instructions regarding the investigation, in which, the chairperson of SEBI will have to give all the necessary information to the expert committee, the agencies associated with the central government will have to cooperate with the committee, the committee will consult external experts for its work. Payment of committee members will be decided by the chairperson and will be borne by the central government Union Finance Minister Nirmala Sitharaman will nominate a senior officer who will act as the nodal officer to provide logistic support to the committee and meet all the expenses of the committee Only the central government will bear it.
What is the whole matter?
Let us tell you that on January 24, Hindenburg Research had published a report regarding Adani Group. In the report, allegations ranging from money laundering to share manipulation were leveled against the group. After the report, there was a huge fall in the shares of the group. At the same time, this whole episode got media highlights regarding the relationship between Adani Group Chairman Gautam Adani and the Prime Minister, as well as the opposition is continuously attacking Prime Minister Modi regarding this matter.
Gautam Adani meets Sharad Pawar at Silver Oak, Mumbai, talks for two hours )supreme court
