FROM PAGE 12

suggest measures to strengthen the statutory and regulatory framework and secure compliances within the existing framework for the protection of investors, reports Hindustan Times.

“The Adani Group welcomes the order of the Hon’ble Supreme Court. It will bring finality in a time-bound manner. Truth will prevail,” tweeted billionaire Gautam Adani.

A bench, comprising Chief Justice of India (CJI) Dhananjaya Y Chandrachud and Justices PS Narasimha and JB Pardiwala, pronounced its order on a batch of four petitions that sought the intervention of the court and an investigation into different aspects of the issue.

On February 17, the CJI-led bench reserved its order on the composition and remit of a committee, which is expected to look into the recent episode that witnessed a massive slide in Adani Group’s stock prices after US firm Hindenburg Research came out with a report alleging fraud and stock manipulation by the Gautam Adani-led group.

The Adani Group has denied the charges.

On that day, the bench turned down the Centre’s “sealed cover” nominees for a probe committee, asserting the court will instead name its own panel. The bench underlined that the process must inspire transparency and confidence without an impression being given of the committee being a “government-appointed” panel.