Six entities took advantage of the fall in Adani Group’s shares
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Markets regulator Securities and Exchange Board of India (SEBI) was already probing the allegations against the Adani Group. The expert committee was appointed by the apex court after serious allegations were made in the Hindenburg Report. The committee was headed by retired Supreme Court Justice AM Sapre while OP Bhatt, KV Kamath, Nandan Nilekani and Somasekhar Sundaresan were its members. Adani Group’s shares had fallen heavily after Hindenburg’s allegations came to the fore. However, the Adani Group dismissed these allegations as baseless.
Who is included in this list
The report said that nothing adverse was found in respect of Adani’s shares in the cash segment, but there were suspicious deals on the part of six entities. Of these, four are FPIs, one corporate entity and one individual. None of the six were named in the report. A detailed investigation is being done in this regard. The committee noted that the factual findings in this regard are still at a very preliminary stage and at this stage it is not commenting on the quality of the evidence. These cases are being investigated.
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