Adani-Hindenburg (Adani Hindenburg) There has been a big disclosure in the report of the expert committee constituted by the Supreme Court to investigate the matter. On January 24, 2023, the American short-selling firm Hindenburg had issued a report on Adani Group companies as overvalued and alleged manipulation of accounts. The opposition created a ruckus about this issue and when the matter reached the Supreme Court, the Supreme Court had constituted a special committee to investigate. Now the report of this committee has come out.
Prima facie no forgery – report
An expert committee set up to look into the allegations leveled against the Adani Group said that it is not possible to conclude that there is a regulatory failure to investigate the allegations of manipulation of share prices. The expert committee has said in its report that after Hindenburg presented his report on January 24, there was not much volatility in the Indian stock market. The Hindenburg report accused the group, led by industrialist Gautam Adani, of involvement in “stock manipulation and accounting fraud”. However, the group has rejected the allegations outright and termed it completely baseless.
Adani’s retail stake increased after Hindenburg report
The report of the expert committee states that Adani Group has disclosed all beneficial owners. Along with this, it has also been said that no such allegation has been made by SEBI that they are rejecting the declaration of beneficial owners of Adani. Adani’s retail stake has increased after the Hindenburg report. It has been clearly stated in the report that prima facie no violation of existing rules or laws has been found.
The special committee set up by the Supreme Court in its report said that all investigations need to be completed in a time-bound manner
The Supreme Court-constituted special committee, in its report, said that while all investigations need to be completed in a time-bound manner, the panel cannot at present conclude that there has been a failure of the regulator in the allegation of price manipulation. The committee said in its report that the market regulator of India has presented findings in its investigation regarding the ownership of the entities of the groups. The volatility in Adani’s shares was actually very high, the report said, due to the Hindenburg report and its consequences.
SC committee report came out on Adani Hindenburg
