Top India Court Sets Up Panel to Probe Adani Allegations
- A six-member panel to see if there was any regulatory failure
- SEBI asked to check on Adani stock manipulation in two months
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India’s top court set up a six-member panel to probe allegations against the Adani Group, after a bombshell report from an American short seller wiped out more than $140 billion off the conglomerate’s market value.
The Supreme Court of India on Thursday also asked the local markets regulator to investigate any manipulation in the Adani stocks and inform about its findings within two months. The committee is also tasked with assessing if there has been regulatory failure and to suggest measures to strengthen the framework.