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Supreme Court Verdict To Be Released Today Probing Stock Manipulation Allegations Against Adani Group and SEBI's Investigation - SirWiz News
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Court

On a number of petitions, the US-based company Hindenburg Research has made allegations against the Adani Group. The Supreme Court is scheduled to make an announcement about these claims. Concerns regarding possible legal infractions are raised by the claims in this case, which center on the Adani Group’s financial operations and trading methods.

Claims Made by Hindenburg Research

 The Adani Group’s financial operations and possible manipulation of stock prices have drawn attention from Hindenburg Research. As a result of these claims, the Securities and Exchange Board of India (SEBI) launched an independent investigation.

SEBI’s Investigation

 When the court set a two-month deadline, SEBI, which was tasked with investigating the claims, first begged for more time. SEBI later requested a 15-day extension to wrap up its inquiry, even though the court had initially given an extension till August 14. By August 25, SEBI announced that it has finished looking into 22 of the 24 cases pertaining to the accusations made against the Adani Group.

Contempt Proceedings

Concerns over the SEBI’s investigation’s delays surfaced during the course of the investigation. A petition was submitted against SEBI, alleging that the market regulator had disregarded the deadline set by the court and seeking to have the market regulator put in contempt. Chief Justice of India DY Chandrachud voiced her displeasure with the state of affairs and emphasized the need for a prompt and exhaustive investigation.

Supreme Court’s Future Verdict

Awaiting the Supreme Court’s decision, stakeholders want to know more about the accusations made against the Adani Group as well as the conclusions reached by SEBI. The resolution of this case would have a big impact on regulatory supervision and financial transparency in India’s corporate sector.

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