Key Points
The Supreme Court panel's clean chit in the Adani-Hindenburg case indicates that the committee has run due diligence and found nothing untoward..
The fundamentals of the company have not been impacted by the allegations and if no wrongdoings are found, confidence should gradually return, says Deven Choksey.ETMarkets.com..
Prima facie, it appears that the committee has possibly run their due diligence and they have not found anything untoward in this particular activity..
I believe that would be the final outcome of this entire case hereafter because the high-level committee which was constituted, did their job based on the fact findings that they may have got on the surface but if at all those allegations were to be proved, then maybe Sebis counterparts in the overseas market will also have to support all those data which otherwise are required...
Difficult for me to say about the legal side of the activity but I would think it would simply mean that if the allegations made on the Adani Group is found to be false, then the country as a whole should have a mechanism along with our regulator to go and check this entity in the other markets of the world and see how exactly they would operate...
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