Gautam Adani On Supreme Court Decision: Gautam Adani shared a post from his X account immediately after the Supreme Court decision. In this post, the Chairman of Adani Group wrote that it was the victory of truth and expressed his gratitude to all those people who stood with him.
On the one hand, due to the decision of the Supreme Court on Wednesday in the Adani-Hindenburg case, on the one hand, the shares of Adani Group companies are again seeing a stormy rise, on the other hand, billionaire Gautam Adani. Expressing happiness over this decision, he said, ‘Truth has won, Satyamev Jayate.’ It is worth noting that on November 24 last year, the Supreme Court had reserved its decision in this matter and today on January 3, while giving it, it has made it clear that it has no intention of interfering in the investigation of market regulator SEBI. .
‘Thank you to those who stood together in bad times’
Gautam Adani shared a post from his X account immediately after the Supreme Court’s decision. In this post, the Chairman of Adani Group has written, ‘This decision of the Supreme Court clearly shows that truth has won…Satyamev Jayate.’ Along with this, Gautam Adani further wrote that I am grateful to all those people who stood with us. Our humble contribution will continue in India’s development story… Jai Hind.
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
What did the Supreme Court say in the decision?
Now let us talk in detail about the decision given on Wednesday in the Adani-Hindenburg case, let us tell you that the Supreme Court has refused to interfere in the investigation of SEBI. A bench of three judges, Chief Justice DY Chandrachud, Justice JB Pardiwala and Justice Manoj Mishra said that the investigation by Sebi is appropriate and it is a competent agency to investigate this matter. The market regulator has completed the investigation of 22 out of 24 cases in the Adani Hindenburg case and still 2 cases are left to be investigated, for which the Supreme Court has given three months time to complete.
Hindenburg raised questions on Adani Group
While hearing this case on November 24, the court had reserved its decision by rejecting the questions being raised on the investigation of market regulator SEBI and the experts committee. It is noteworthy that the American short seller firm had published a research report on Adani Group on January 24 in the year 2023, in which serious questions were raised regarding the debt on the group including overvaluation of Adani’s company’s shares and manipulation in prices. After this, the shares of his company fell by 85 percent and in just two months, Gautam Adani’s wealth (Gautam Adani Networth) decreased by 60 billion dollars.
