Adani-Hindenburg story not over yet? Review petition filed against SC judgment
review petition has been filed against the Supreme Court's judgment that gave thumbs up to the market regulator SEBI probe in the Adani-Hindenburg issue.
The petitioner has said that the judgment has 'apparent errors' and that the SEBI's regulatory failures were overlooked.
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Offering CollegeCourseWebsiteIIM KozhikodeIIMK Chief Product Officer ProgrammeVisitUniversity of Western AustraliaUWA Global MBAVisitIndian School of BusinessISB Leadership in AIVisitUS-based short-seller Hindenburg Research in January 2023 had accused the Adani Group of fraud and “brazen” stock price manipulation. What followed was mayhem in the stock market, Parliament and the Supreme Court eventually intervening and setting up a probe to investigate the allegations.
Despite some seemingly positive statements from the Supreme Court, SEBI’s probe to check if the group violated securities laws is still ongoing. The SC in January had asked SEBI to finish the probe in three months
In an editorial published on the TOI, the conglomerate’s billionaire chief Gautam Adani claimed he perhaps did not pay enough attention to the company’s outreach mechanisms.
“In hindsight, the crisis uncovered a fundamental weakness I had let grow — we had not paid enough attention to our outreach mechanisms. We had all along naively believed that all our non-financial stakeholders too knew us and the truth about us – that our financials were robust, that our governance was impeccable, that our road map to
