Adani group got relief from SC panel, know on what basis it got clean chit – how adani group get clean chit from supreme court

Adani group got relief from SC panel, know on what basis it got clean chit – how adani group get clean chit from supreme court

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New Delhi: The report of the Supreme Court panel set up to probe the Adani-Hindenburg case was made public on Friday. The panel said it has not found any evidence of rigging in Adani Group’s share prices. ‘Nothing has been found’ in a separate Sebi probe into violations of norms in foreign companies investing in Adani Group companies. According to the report, it cannot be concluded that SEBI’s failure was behind the rally in Adani Group’s shares. This conclusion of the panel is being seen as a big relief for the group led by Gautam Adani. . However, the committee said that before the Hindenburg report, evidence has been found of creation of short positions (making profits on price fall) in the shares of Adani Group. The committee noted that profits were made in these share deals after the Hindenburg report indicted the Adani Group when the share price fell drastically. Citing inputs from the ED, the committee said, ED had received intelligence inputs about possible violations of rules by specific parties just before the Hindenburg Report. This points to organized efforts to destabilize the Indian markets. SEBI should investigate these activities. The expert committee was formed by the Supreme Court after allegations were made in the Hindenburg Report. After Hindenburg’s allegation, there was a huge fall in the shares of Adani Group. The Adani group had dismissed the allegations as baseless.


Congress said, talk of clean chit is fake

The Congress on Friday said that the conclusions drawn in the report of the Supreme Court panel are speculative. It is fake that Adani Group has got a cliché. Party General Secretary Jairam Ramesh said that there are some things in the report which give strength to the demand for a JPC probe. We have been saying that the Expert Panel has very limited jurisdiction. He might not be able to expose the scam. Citing an excerpt from the report, Ramesh said, “Sebi is not satisfied that those giving money to FPIs have no connection with Adani.” This confirms the question of the Congress that where did Rs 20,000 crore come from? According to the report, LIC bought 4.8 crore shares of Adani when it increased from Rs 1031 to Rs 3859. Whose interests was LIC serving?

Rahul got another failure: BJP

After the expert committee report on the Adani issue came out, BJP took a jibe at Rahul Gandhi, saying his speechwriters will now have to do something more bizarre to keep their ‘lie machine’ going. BJP leader Amit Malviya said, Rahul Gandhi’s another campaign to target the government has failed. Earlier, he had failed even after running a ‘chowkidar chor hai’ campaign against the prime minister over the Rafale deal. Mukul Rohatgi, the lawyer representing the Adani Group in the Supreme Court, claimed that the findings of the committee were completely in favor of the company. He said, the committee found that there was no manipulation of share prices and there was no real reason to worry. SEBI’s investigation is still on and so far it has concluded that there is no violation by the company.

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