The inquiry committee submitted its report to the SC in the Adani dispute.
The inquiry committee submitted its report to the SC in the Adani dispute.
Adani Controversy: The Supreme Court had constituted a committee to investigate the Adani Hindenburg case. The committee has submitted its report in the Adani case to the Supreme Court today i.e. on Friday. In its report, the committee said that at present it cannot be concluded that there has been a regulatory failure on the part of SEBI on the allegation of price manipulation in the Adani-Hindenburg affair.
Read here what the committee said in its report
Regarding the Adani Controversy, the committee in its report said that it is not possible for the committee to reach this conclusion keeping in view the clarification provided by SEBI. The SC-appointed panel asserted that SEBI is actively collecting data on these transactions, adding that SEBI must complete the probe at the earliest in a time-bound manner. Simultaneously on the question of regulatory failure, the panel replied that it would not be possible to find regulatory failure in the context of the rules prevailing when these transactions were effected.
SEBI found this in the investigation
SEBI in its investigation has found that there were some entities who took short positions before the publication of the Hindenburg report and made profits by squaring off their positions when prices fell. The committee further said in its report that the market has revalued Adani’s shares. According to statistics, after January 24, 2023, the investment of retail investors in Adani’s shares has increased significantly. Based on this report, it is concluded that the Indian stock market as a whole was not volatile.
SEBI will have to submit the investigation report by August 14
Let us tell you that when the Adani case was at its peak, the volatility in Adani shares was really high, which is due to the publication of the Hindenburg Report and its consequences. On Wednesday, the apex court gave SEBI a deadline of August 14 to complete the probe into allegations of stock price manipulation in the matter. SEBI will have to submit its investigation report before August 14.
read this also…Wrestler Protest: Farmers roar at Jantar Mantar, Rakesh Tikait also reached
