Gautam Adani
In a recent development in the Adani-Hindenburg case, the Supreme Court has extended the deadline for SEBI to investigate the remaining two cases by three months. Additionally, the court has declined to transfer the investigation from SEBI to the Special Investigation Team (SIT).
Supporters of the Adani Group interpret the Supreme Court’s decision as a victory, emphasizing the court’s trust in SEBI’s investigative process. Adani Group Chairman Gautam Adani expressed satisfaction with the court’s decision, stating, “The decision of the Supreme Court shows that truth has prevailed. Satyamev Jayate.”
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.
— Gautam Adani (@gautam_adani) January 3, 2024
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He also expressed gratitude to those who supported the group and affirmed their commitment to India’s development. The Supreme Court bench, comprising Chief Justice DY Chandrachud, Justice JB Pardiwala, and Justice Manoj Mishra, delivered the verdict, asserting the limited power of the court to interfere in SEBI’s regulatory framework.
The court directed SEBI to conclude the investigation in the remaining two cases within the stipulated three months, considering the assurance given by the Solicitor General.
