Not possible to conclude regulatory failure on allegations against Adani Group: Committee
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The committee was constituted by the Supreme Court to investigate the allegations made about the Adani group in the report of Hindenburg Research, an American financial research and investment company.
New Delhi. An expert committee constituted to look into allegations of manipulation of share prices by the Adani Group has said that it is not possible to conclude that there is a regulatory failure to investigate allegations of manipulation of share prices. The committee was constituted by the Supreme Court to investigate the allegations made about the Adani group in the report of Hindenburg Research, an American financial research and investment company. The Committee also observed the same with regard to disclosure of transactions between related entities of the group.
The expert committee has said in its report that after Hindenburg presented his report on January 24, there was not much volatility in the Indian stock market. The Hindenburg report accuses the group led by industrialist Gautam Adani of involvement in ‘stock manipulation and accounting fraud’. However, the group has dismissed the allegations outright and termed them as completely baseless.
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