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New Delhi : The Adani Group and Hindenburg Research case will be investigated by a committee constituted by the Supreme Court. The Center on Monday agreed to a committee set up by the Supreme Court to strengthen the regulatory regime after the Hindenburg-Adani episode. However, it also states that the panel should be very specific, so that it does not affect the flow of funds and investments. The Supreme Court has directed the Center to submit a note on the proposed terms of reference by Wednesday. The next hearing will be on Friday.
The Supreme Court had last Friday asked the government to set up a robust framework by amending laws and strengthening supervisory controls to protect thousands of investors who have invested in shares on the Adani Group following a report by US firm Hindenburg Research. Misappropriation and accounting fraud were alleged. Due to these allegations, the shares of Adani Group fell heavily.
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