Key Points
The court, led by Chief Justice DY Chandrachud, dismissed the notion of transferring the case to the CBI, emphasizing no grounds for skepticism in SEBI's actions..
Adani faced volatility in 2023, accused by Hindenburg Research and OCCRP, but rebounded after the US government, and SEBI found allegations insignificant.Adani-Hindenburg case: Supreme Court refuses SIT probe, orders SEBI to complete probe in three months..
The Supreme Court on Wednesday asked markets regulator SEBI to complete its probe into allegations against the Adani Group by US-based short-seller Hindenburg Research in the next three months..
While reserving the verdict, the SC had said it has no reason to "discredit" SEBI, which probed allegations against the Adani group, as there was no material before it to doubt what the market regulator has done and the court does not have to treat what was set out in the Hindenburg report as a "true state of affairs"...
Following this, listed Adani entities rallied, adding over $23 billion to Adani's market value, with three companies hitting the upper circuit.. 2023 was a topsy-turvy year for Adani which started with Hindenburg Research alleging multiple charges including that of corporate misgovernance, followed by a stock market rout..
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