Hindenburg row: Gautam Adani says truth has prevailed

Thursday, 4 January 2024 03:00 - - {{hitsCtrl.values.hits}}

Adani Group Chairperson Gautam Adani

Billionaire and Adani Group Chairperson Gautam Adani, reacting to the Indian Supreme Court judgment on allegations levelled by a US short-seller against his conglomerate, said recently that truth has prevailed and his group would continue to contribute to India’s growth story.

The Supreme Court on Wednesday ruled that there was no ground to order an investigation by a SIT or CBI into allegations against the Adani group, and that capital market regulator SEBI must conclude its probe within three months.

A three-judge bench of the top court, headed by the Chief Justice of India D.Y. Chandrachud, asked Securities and Exchange Board of India (SEBI) to complete its pending investigation within three months and said no more probes were needed, potentially drawing an end to the year-long saga triggered by Hindenburg Research’s scathing report against the apples-to-airport conglomerate.

Adani group has denied all allegations.