‘Satyameva Jayate’: Gautam Adani says ‘truth has prevailed’ after SC’s verdict on Adani-Hindenburg case

Adani-Hindenburg case: Adani Group Chairman Gautam Adani, in a social media post on Wednesday, said that truth has prevailed, after the Supreme Court said that the allegations against the expert committee that looked into the charges levelled against the group by Hindenburg Research, was unsubstantiated. 

“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,” he said in a social media post on X, formerly Twitter. 

The Supreme Court, on Wednesday, gave a clean chit to Sebi and said that there are no valid grounds to direct the regulator to regulate its amendments made in exercise of delegated legislative powers. The Sebi completed the probe into 22 allegations out of 24, and the apex court gave the regulator three months’ time to complete the remaining two allegations. 

“Allegations against the members of the expert committee are unsubstantiated. There’s no ground here to transfer the probe in this case and this can only be raised if there is willful or deliberate violation of the rules. Reliance on OCCPR report is rejected and reliance on a third party organisation report without any verification cannot be relied upon as a proof,” said the apex court. 

The Supreme Court directed the government and Sebi to take into consideration the recommendations of the committee to strengthen the interest of Indian investors. 

Meanwhile, shares of Adani group companies jumped 11 per cent after the Supreme Court verdict, with Adani Ports and SEZ rising 2 per cent, and Adani Enterprises rising 5 per cent. Other group companies were up 3-11 per cent. 

Also read: Adani-Hindenburg case: Supreme Court says allegations against members of expert committee are unsubstantiated

Also read: Adani-Hindenburg case: SC verdict out! Adani shares surge; group m-cap tops Rs 15 lakh cr mark