Gautam Adani On Supreme Court’s Hindenburg Case Verdict: “Truth Has Prevailed”
New Delhi: Gautam Adani, the chairman of the Adani Group, hailed today’s Hindenburg case Supreme Court ruling as a win for the truth. “Grateful to those who stood by us,” Mr. Adani said in a message on X, the old Twitter.
The Supreme Court ruled today that the capital markets regulator SEBI’s probe into the Hindenburg case cannot be questioned based on the findings of the George Soros-led OCCRP, providing a significant win for the conglomerate.
“The verdict of the Honorable Supreme Court demonstrates that: Truth has won out. Jayate Satyameva. I’m appreciative to everyone who supported us. We will keep making our little contribution to India’s remarkable progress. In the post on X, Mr. Adani wished “Jai Hind.”
A Supreme Court panel led by Chief Justice of India DY Chandrachud and Justices JB Pardiwala and Manoj Misra delivered the decision, ruling that there was no justification for sending the matter to a special investigation team (SIT).
The US-based short seller Hindenburg Research’s accusations have been connected to 24 instances, of which 22 have been probed by the Securities and Exchange Board of India (SEBI). The remaining two cases were given three months by the Supreme Court for the SEBI to finish its probe.
Since the charges made by US-based short seller Hindenburg Research, which caused the group enterprises to take a sharp tumble, the Adani Group has recovered more strongly.
In yet another significant victory, the government and SEBI were directed by the Supreme Court to investigate if Hindenburg violated any regulations by shorting the market and to take appropriate measures.
