Adani probe: No artificial stock trading found, expert panel tells Supreme Court
An expert committee report submitted before the Supreme Court said no pattern of artificial trading was found with the Adani stocks. The panel also said SEBI has not been able to determine the ownership of 13 overseas entities under investigation since 2020.
By Aneesha Mathur: No pattern of artificial trading was found with the stocks of the Adani group, according to the report submitted before the Supreme Court by the expert committee in the Adani-Hindenburg case.
The panel also said SEBI has not been able to determine the ownership of 13 overseas entities under investigation since 2020, and it is caught in a “chicken and egg situation”.
The committee said 849 automated “suspicious” alerts were generated by the systems regarding Adani stocks.
“These 849 alerts were considered by the stock exchanges and four reports were filed before SEBI — two before the Hindenburg report and two after,” the court-appointed committee said.
The committee informed the court that it tried to contact several international security firms to discuss the Adani-Hindenburg issue.
“None of the international security firms and banks were desirous of engaging with the committee,” the panel’s report said.