{"id":147346,"date":"2024-01-03T18:39:36","date_gmt":"2024-01-03T15:39:36","guid":{"rendered":"https:\/\/timeskuwait.com\/news\/?p=147346"},"modified":"2024-01-03T18:39:36","modified_gmt":"2024-01-03T15:39:36","slug":"indias-adani-gets-top-court-relief-on-further-probe-over-hindenburg-report","status":"publish","type":"post","link":"https:\/\/timeskuwait.com\/news\/indias-adani-gets-top-court-relief-on-further-probe-over-hindenburg-report\/","title":{"rendered":"India\u2019s Adani gets top court relief on further probe over Hindenburg report"},"content":{"rendered":"<p>India\u2019s Supreme Court says the Adani Group does not need to face more investigations beyond the current scrutiny of the market regulator, a major relief for the conglomerate hit hard by a United States-based shortseller\u2019s allegations of wrongdoing.<\/p>\n<p>The Securities and Exchange Board of India (SEBI) has been\u00a0probing the Adani Group, led by billionaire\u00a0Gautam Adani, after Hindenburg Research in January 2023 alleged the improper use of tax havens and stock manipulation by the group.<\/p>\n<p>The Adani Group denied the allegations, but Hindenburg\u2019s report still chopped $150bn off its stock market value.<\/p>\n<p>Though some investor confidence returned in recent months as Adani won the backing of bankers and investors, the Hindenburg report and the regulatory scrutiny have weighed on the group\u2019s\u00a0business dealings\u00a0and reputation.<\/p>\n<p>The\u00a0Supreme Court, which was ruling on cases brought by public interest litigants seeking a special investigation team to probe the matter, on Wednesday said \u201cthe facts of this case do not warrant\u201d such a change, even though the court had the powers to transfer the investigation.<\/p>\n<p>The verdict signals there will not be increased regulatory or legal risk on the Adani Group beyond the current SEBI investigation.<\/p>\n<p>Reflecting that view, shares of various Adani Group companies rose, with Adani Energy Solutions up 9.1 percent, Adani Total Gas surging 7.1 percent, Adani Green Energy jumping 5.5 percent and the flagship business Adani Enterprises rising 2.6 percent, Reuters news agency reported.<\/p>\n<div id=\"article-newsletter-slot\">\n<div class=\"sib-newsletter-form general-style\" aria-label=\"Newsletter signup Widget\">\n<div class=\"sib-form-container\">\n<div class=\"sib-container--large sib-container--horizontal\" style=\"text-align: right;\">Source: Aljazeera<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s Supreme Court says the Adani Group does not need to face more investigations beyond the current scrutiny of the market regulator, a major relief for the conglomerate hit hard by a United States-based shortseller\u2019s allegations of wrongdoing. The Securities and Exchange Board of India (SEBI) has been\u00a0probing the Adani Group, led by billionaire\u00a0Gautam Adani, [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":147347,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,20],"tags":[],"class_list":["post-147346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-india"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>India\u2019s Adani gets top court relief on further probe over Hindenburg report - TimesKuwait<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timeskuwait.com\/news\/indias-adani-gets-top-court-relief-on-further-probe-over-hindenburg-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India\u2019s Adani gets top court relief on further probe over Hindenburg report - TimesKuwait\" \/>\n<meta property=\"og:description\" content=\"India\u2019s Supreme Court says the Adani Group does not need to face more investigations beyond the current scrutiny of the market regulator, a major relief for the conglomerate hit hard by a United States-based shortseller\u2019s allegations of wrongdoing. 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