New Delhi: Welcoming the Supreme Court (SC) decision to form an expert panel to look into allegations levelled by US short-seller Hindenburg Research on the business conglomerate, Adani Group Chairman Gautam Adani on Thursday said that it will bring finality in the matter and truth will prevail.
“The Adani Group welcomes the order of the Hon’ble Supreme Court. It will bring finality in a time bound manner. Truth will prevail,” Gautam Adani said in a tweet.
The expert panel to probe the allegations against the Adani Group will be headed by former SC judge AM Sapre. The six-member committee includes bankers OP Bhat and KV Kamath, Infosys co-founder Nandan Nilekani and retired Justice JP Devdhar.
While ordering the probe, the apex court also directed market regulator Securities and Exchange Board of India (SEBI) to provide all the relevant information to the expert panel.
The Hindenburg report released on January 24 this year had accused the Adani Group of stock manipulation and accounting fraud besides raising issues of corporate governance. The Adani Group, however, rubbished the charges and termed them as ‘malicious combination of selective misinformation’.
The damning report, however, triggered a rout of Adani Group stocks and fast erosion of Gautam Adani’s networth. The opposition parties have been demanding a thorough probe into the episode.
