‘Truth has prevailed,’ says Gautam Adani after Supreme Court backs SEBI clean chit in Hindenburg case
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Adani-Hindenburg row: Billionaire Gautam Adani reacted to the Supreme Court judgment in the Hindenburg case, saying the ‘truth has prevailed’.
His comments came just minutes after the Supreme Court backed the clean chit to the Adani group by the Securities and Exchange Board of India (SEBI) over allegations by the US-based short seller Hindenburg Research.
Gautam Adani on SC verdict
In a post on X, Adani said, “The Hon’ble Supreme Court’s judgement shows that: Truth has prevailed. Satyameva Jayate. I am grateful to those who stood by us. Our humble contribution to India’s growth story will continue. Jai Hind.”
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Supreme Court on Adani-Hindenburg row
The Supreme Court on Wednesday granted three months to SEBI to investigate two out of four cases on a batch of petitions on the Adani-Hindenburg row over allegations of stock price manipulation by the Indian corporate giant.
A bench comprising Chief Justice D Y Chandrachud and justices J B Pardiwala and Manoj Misra said that it cannot regulate SEBI’s power of investigation. The Apex court also ruled that ’till now’ no concrete evidence has come out against Gautam Adani. SEBI has completed its probe in 22 out of 24 cases relating to allegations against the Adani group.
The apex court also said that the facts of the case do not warrant the transfer of the probe into the matter to a Special Investigation Team (SIT) or other probe agency.
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