India's Supreme Court has ruled against ordering a new investigation into the Adani Group, following allegations made by Hindenburg Research. The court has directed the Securities and Exchange Board of India (SEBI) to complete its ongoing probe into the Adani Group within three months, stating there was no ground to prove that SEBI was lackadaisical in its investigation. The decision dismisses the need for any further investigation, including the possibility of a Special Investigation Team (SIT) or a Central Bureau of Investigation (CBI) probe, which some had requested. Upholding SEBI's probe, the Supreme Court's ruling appears to put an end to the year-long controversy sparked by the short-seller's report. Following the court's decision, Gautam Adani, the founder of Adani Group, has reclaimed his title as Asia's richest person, surpassing Mukesh Ambani, and remarked 'Truth has prevailed' in response to the ruling.
Here’s how #GautamAdani got 900% richer in 2 years, lost one-third of his wealth post the #Hindenburg allegations & has now surpassed #MukeshAmbani again to become India’s richest man: https://t.co/13kwcQj5Ek https://t.co/anCtNULUxp
JUST IN: 🇮🇳 India's Gautam Adani has returned as the richest person in Asia according to Bloomberg's index, months after tens of billions of dollars in the market value of Adani Group was wiped out after a report by Hindenburg Research.
Adani overtakes Ambani as Asia’s richest man The tycoon reclaims top spot as Supreme Court ruled in his group’s favor following stock-manipulation allegations https://t.co/Bee6SBLRwB https://t.co/qfMzfNMNeY
How #Adani became richer than #Ambani ...again https://t.co/h9WsWNwa98
NEW: India’s Adani reclaims Asia’s richest mantle after scandal https://t.co/nCwXGHuZEJ
Adani Group founder Gautam Adani is once again Asia's richest person https://t.co/Cn2CInfBSQ
#GautamAdani overtakes #MukeshAmbani, reclaims Asia’s richest person spot https://t.co/0rR68rcuPk
Gautam Adani is back to being Asia’s wealthiest person days after India’s top court said no new probes were needed into Hindenburg Research’s bombshell allegations against the tycoon’s conglomerate https://t.co/vEzTgAMDAy
#GautamAdani reclaims the title of Asia's wealthiest person, surpassing #MukeshAmbani, after India's Supreme Court concludes no new probes are needed into allegations against #Adani's conglomerate. Read: https://t.co/0rR68rd2ES https://t.co/yCuEXSi98f
After a roller-coaster ride on the wealth rankings last year, Gautam Adani is back to being Asia’s wealthiest person https://t.co/rhLtgqDUV5
India’s top court rules in favor of Adani conglomerate https://t.co/ae2fEIIWrh https://t.co/DOknPFxCeu
Adani-Hindenburg row: Supreme Court upholds Sebi's probe, dismisses need for further investigation https://t.co/tybJXIKfOH
Billionaire Gautam Adani Welcomes Supreme Court Ruling In His Favor On Hindenburg Allegations https://t.co/PA328agXkL
India’s Supreme Court rejected a petition seeking an independent probe into allegations against billionaire Gautam Adani’s conglomerate raised by New York-based activist firm Hindenburg. The latest: https://t.co/4OjDMuuchC
India’s top court orders the market regulator to close its probe into the Adani Group within three months and says no more probes are needed, potentially drawing a line under the year-long Hindenburg saga https://t.co/Adv9qC6uKZ
India’s Supreme Court says the Adani Group does not need to face more investigations beyond the current scrutiny of the market regulator over the Hindenburg report https://t.co/kUVeVhu1D4 https://t.co/IysOL00G7m
#Adani-#Hindenburg row: Supreme Court says no ground to transfer probe from #Sebi to SIT or CBI https://t.co/m6gyPCKCws
India’s Top Court Refuses To Order Independent Probe Into Hindenburg’s Allegations About Billionaire Adani’s Empire https://t.co/9ODerxplWd https://t.co/fcHU6NN3Z3
#India’s top court orders market regulator to conclude its investigation into the #AdaniGroup within three months and says no more probes are needed, drawing a line under the saga triggered by a short-seller attack on the conglomerate. https://t.co/FlDkrxkypj
India’s top court gives the securities regulator three more months for its Adani probe https://t.co/tF28yZ0Hzv
India’s Supreme Court rules against escalating Adani probe https://t.co/xAQnNd5VO5
Adani-Hindenburg row: "Truth has prevailed", says Gautam Adani after SC ruling Read @ANI | https://t.co/RtkTOylJ9S #GautamAdani #AdaniHindenburg https://t.co/HZxTpBcDI4
India's Supreme Court ordered the country's markets regulator to complete an investigation into Adani Group within three months and rejected a request for the probe to be transferred to an independent agency https://t.co/tbKrbdNX2K
India's Supreme Court ordered the country's markets regulator to complete an investigation into Adani Group within three months and rejected a request for the probe to be transferred to an independent agency. More here: https://t.co/VYWKs8c33K
India court says Adani's market regulator probe doesn't need more scrutiny https://t.co/QXcXPmklMU https://t.co/VqIALLLxrj
Gautam Adani: India court declines new inquiry against billionaire https://t.co/WcRTbcyRQT
🧵 The Supreme Court has refused to form an SIT to probe the allegations against the Adani Group and also said there was no ground to prove that SEBI was lackadaisical in its investigation. What were Hindenburg's three big allegations against the group? https://t.co/y1FB7Ns2by
India’s top court orders the market regulator to close its probe into the Adani Group within three months and says no more probes are needed, potentially drawing a line under the year-long saga triggered by a short-seller attack on the conglomerate https://t.co/fYsOsUlm6L
The SC decided against ordering a SIT or CBI probe into the #GautamAdani-#Hindenburg Research controversy. Instead, the court directed #Sebi to complete its investigation into alleged violations by #AdaniGroup companies. https://t.co/vn1fp2f6om #AdaniHindenburgCase… https://t.co/YsKCSAE1DP