The Supreme Court on Thursday ordered an investigation against the Adani group to determine if there had been any manipulation of the group companies’ share prices.
The court directed the Securities and Exchange Board of India (SEBI) to complete the investigation within a period of two months and file a status report before the Court.
SEBI is already investigating into the allegations of the Hindenburg report as well as the market activity immediately preceding and post the publication of the report to identify violations.
The bench comprising Chief Justice D Y Chandrachud, Justice PS Narasimha, and Justice JB Pardiwala appointed former SEBI chairman OP Bhat, retired Justice JP Devdatt , KV Kamath, Nandan Nilakeni, and Somasekharan Sundaresan as the members of the committee.
The Committee will be under the supervision of former Supreme Court judge Justice AM Sapre.