Supreme Court verdict in Adani-Hindenburg case today, stage set for another BJP-Congress face-off
时间:2024-06-26 09:35:04 阅读(143)
A year after US-based investment research firm Hindenburg Research’s accusations of stock price manipulation against the Adani Group led to a major war of words between the ruling Bharatiya Janata Party and the Congress-led Opposition, a three-judge bench of the Supreme Court will on Wednesday pronounce its verdict in the case.
The top court’s verdict comes over a month after it reserved its judgment in November on a batch of petitions regarding the allegations of stock price manipulation by the Adani Group.
In May 2023, the court also appointed a six-member committee to investigate if there was any failure on the part of regulators. The panel found no evidence of regulatory failure on the part of SEBI and said in May that there was “no coherent pattern of abusive trading”.
The allegations levelled by US-based short-seller Hindenburg triggered a major political row last year, even leading to a washout of the entire Budget Session. The Opposition, which used the opportunity to unite in Parliament against the BJP, sought to link the rise of industrialist Gautam Adani to Prime Minister Narendra Modi and also demanded a Joint Parliamentary Committee probe into the allegations against the Adani Group.
The verdict today comes just ahead of the Lok Sabha elections and could, possibly have ramifications on the prospects of the BJP and the Congress. While a judgment against the Adani Group will be lapped up by the Opposition to score one over the BJP, a judgment rejecting wrongdoing on the part of Adani or a regulatory failure would automatically arm the BJP with ammo to target the Congress for seeking to malign the Prime Minister’s image.
猜你喜欢
- Budget 2024- Here are key terms you should know before Budget session
- Rakesh Jhunjhunwala stock tanks 54% in one year, Jubilant Pharmove Q4 profit falls 72%; stock gets upgrade
- Boeing faces fresh scrutiny after Alaska Airlines incident – Here’s what has happened so far
- Beyond numbers- How Artificial Intelligence is reshaping financial services
- Ramadan 2023- Holy month to begin for Muslims from Friday – See Photos
- Ramkrishna Forgings secures NCLT approval for acquisition of ACIL Ltd
- India-Oman free trade agreement likely to be inked next month, says official
- Buy Axis Bank, HDFC, DLF stocks for gains; follow buy on dips till Nifty holds 17800, Bank Nifty looks bullish
- Bond yields flattish ahead of April US inflation data