Gautam Adani, the chairman of Adani Group, expressed gratitude following the Supreme Court’s recent ruling on the Adani-Hindenburg case. Adani emphasized that the verdict reaffirmed the triumph of truth, and he extended his thanks to those who stood by the group during the legal proceedings.
In a statement, Adani conveyed his appreciation for the support received, highlighting the group’s commitment to contributing humbly to India’s ongoing growth story. The Supreme Court bench, consisting of Chief Justice DY Chandrachud, Justice JB Pardiwala, and Justice Manoj Misra, dismissed the proposal for a Special Investigation Team (SIT) probe into allegations against the Adani Group.
Instead, the court ruled that the Securities and Exchange Board of India (SEBI) would continue its investigation. The judgment emphasized the importance of relying on concrete evidence rather than mere newspaper reports or third-party organizations. The court asserted that while such sources can be considered as inputs, they do not provide conclusive evidence.
The Supreme Court further underscored that questioning the statutory regulator, SEBI, based solely on external reports does not inspire confidence. The court maintained that there is no substantial foundation to claim that SEBI has been negligent in its probe. As the legal cloud lifts, Adani remains optimistic about the Adani Group’s unwavering commitment to contributing positively to India’s economic trajectory.
