New Delhi: American research firm Hindenburg released its report against Adani Group on 24 January 2023. In this report, serious allegations were made against the Adani group. After this there was a huge uproar. Adani’s shares continued to fall. At the same time, an uproar started from the road to the Parliament regarding the Adani case. The matter reached the Supreme Court. The Supreme Court constituted a six-member expert panel to probe the Adani Group. The committee was asked to submit its report within two months. Following the court’s order, the panel has submitted its report in a sealed cover to the Supreme Court on May 8. After the report is submitted, it will be presented before Chief Justice DY Chandrachud on May 12 on the entire matter. Significantly, SEBI, which is probing the Adani case, has sought additional time. On April 29, SEBI sought an extension of six months to complete the probe into the allegations made by Hindenburg against Adani Group. SEBI, keeping its point before the Supreme Court, has demanded to take 6 months more time to complete the investigation.
However, there was opposition to SEBI asking for an additional time of 6 months. A petition was filed against SEBI’s demand for 6 months’ extension. The petition said that by giving additional time for investigation, the company may tamper with important data and facts. Significantly, the court had given two months time to both the panel and SEBI.
Former Supreme Court judge AM Sapre, former bankers KV Kamath and OP Bhatt, apart from Infosys co-founder Nandan Nilekani, securities lawyer Somashekhar Sundaresan and retired judge JP Deodhar, are part of the panel set up by the Supreme Court to probe the allegations against the Adani group. Are included.
