Supreme Court: No need to further probe Hindenburg-Adani charges
Wednesday, 3 January 2024 The year-long controversy over Adani group stocks, triggered by short-seller Hindenburg Research’s allegation of stock manipulations, ended with a whimper on Wednesday as the Supreme Court rejected pleas for an SIT or CBI probe, approved market regulator Sebi’s investigation and ordered central agencies to probe Hindenburg’s role in causing loss to Indian investors. A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra, in a 46-page judgment, disposed of all the PILs on finding that there was no merit in the allegations relating to regulatory failure of Sebi
The Supreme Court ruled against an SIT, upholding Sebi's ongoing investigations into Adani Group in three months. It dismissed transfer requests, endorsed FPI and LoDR norms, and rejected conflict claims in expert panels. The verdict eased market pressure, causing Adani Enterprises' shares to rise...
As the counting trend suggested major gains for the Opposition's INDIA alliance in the Lok Sabha election, Rahul Gandhi slammed the Narendra Modi-led government and said that the Opposition fought this election not just against the BJP but all the institutions it had "captured." "We fought this election against the Bharatiya Janata Party, Indian governance structure, probe agencies, judiciary and other public institutions, since these all had been captured by the Modi government," Gandhi said. "The public directly related Modi and Adani. If Modi loses, the stock market says Modi is gone so Adani is gone. There is a direct relationship of corruption between them," he alleged. Indian stocks suffered their worst intraday fall since March 2020 on Tuesday, as vote counting trends in the general election suggested Prime Minister Narendra Modi's alliance was unlikely to win the overwhelming majority predicted by exit polls.
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Witness the aftermath of the Lok Sabha Election Results 2024 as Adani Group shares plummet by billions, sparking a bloodbath in the share market. Join Oneindia for in-depth analysis and real-time updates on the economic repercussions of this seismic political event.
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The Shehbaz Sharif-led government in Pakistan has decided to ban the jailed former Prime Minister Imran Khan's Pakistan Tehreek-e-Insaf (PTI) party, the country's Information Minister announced on Monday. The PTI is Pakistan's largest opposition party. Attaullah Tarar, the Pakistani Minister for Information and Broadcasting, announced in a press conference that the decision to ban the PTI was made due to alleged anti-state activities. The case will be referred to the Supreme Court, according to Pakistani media.
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