Adani-Hindenburg; The Report Of The Expert Committee Was Submitted To The Supreme Court

An expert panel appointed by the Supreme Court to probe the Adani-Hindenburg issue has submitted its report. The report was submitted on Monday in a sealed cover. The matter is expected to be considered by the Supreme Court on Friday, May 12. It is not clear whether the six-member committee has submitted a complete or partial investigation report. No information has been released whether the committee’s investigation has been completed on all the issues mentioned by the Supreme Court on March 2. If the investigation is not completed in all the issues, it is considered that there is a possibility of seeking more time before the committee and the Supreme Court.

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The Supreme Court had asked the expert committee and SEBI to submit a report within two months. In the Adani matter, the Securities and Exchange Board of India (SEBI) was also investigating the six-member committee. But on April 29, SEBI requested the Supreme Court to extend the time for the investigation by another six months.

Is there a violation of securities regulation rules in the Adani matter? Has there been a failure to disclose related party transactions? Has stock prices been manipulated beyond the law? The six-member committee mainly examines the issues. The court has also directed to strengthen regulatory norms and submit guidelines to increase investor awareness.

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The committee is headed by retired judge Abhay Manohar Sapre. Banking experts KV Kamath, OP Bhat, Infosys co-founder Nandan Nilekani and retired Justice JP Devdhar are the other members of the six-member committee. SEBI made a detailed presentation before this committee on April 2 and 26. SEBI informed the Supreme Court that the committee had collected detailed information from them. The committee was also briefed about the preliminary inquiry conducted by SEBI in connection with 12 questionable transactions related to the Adani Group.

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