Adani-Hindenburg Case: A look at the timeline of events

[{"selector":"#anim-ab9d6a0c-8644-4e88-8db2-71d26a521d1f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(25.029296420080684%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] CNBC TV18 By Priyanka Deshpande Published Jan 3, 2024

The Supreme Court on Jan 3, 2024 refused to transfer the Adani Group stock price manipulation probe to CBI. Take a look at the timeline of events in the matter.

JAN 2023

[{"selector":"#anim-8777da52-21c8-48ba-8ad2-f05b91cada40","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-d0108308-10f6-4231-9751-ab9e4b2aee1a","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] A report published by Hindenburg Research alleges that Adani Group of companies manipulated its share prices.

FEB 2023

[{"selector":"#anim-fa8a0b7c-ee13-4f85-ba1c-4b07aeae9139","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-ea5a42b2-66f6-49d3-9dd7-b815da43e5ca","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] PIL filed in SC, seeks direction to set up a committee under the monitoring of a retired SC judge to investigate allegations.

MAR 2, 2023

[{"selector":"#anim-0e73dde0-6b8c-4ca4-aabd-d6dcf655653e","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8891e9c0-40a0-40a4-a084-bdcf71b50371","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] SC asks SEBI to probe within 2 months’ allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures.

SC also sets up a panel to look into the protection of Indian investors after a damning report by a US short seller wiped out more than $140 billion of the conglomerate's market value.

MAY 2023

[{"selector":"#anim-2ed09418-b296-4602-a8d4-09d0ec36528f","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-e3507414-fc89-4505-853f-8dfa031e11b6","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Court-appointed expert committee submits report.

MAY 17, 2023

[{"selector":"#anim-ae4a0a72-c66c-4bc4-8c24-14f22e50a7a8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.761904848589946%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-9b048bf4-6dea-4918-adca-c2f9a98b2b5f","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-9fdc5acd-a2ff-4df3-b7ca-7177e0cd73f6","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] SC grants SEBI time till August 14, 2023, to submit a report regarding its probe into the allegations of stock price manipulation by the Adani group.

NOV 24, 2023

[{"selector":"#anim-aa3831a8-db69-4ccc-860d-3a705e6dde3a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-f18fdb71-c5b5-405f-aceb-4a65057654fa","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-6f4236d6-3daa-496e-9863-76e503902ec9","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] SC reserves its verdict on a batch of pleas concerning the Adani-Hindenburg row on allegations of stock price manipulation.

Jan 3, 2024

[{"selector":"#anim-4fb259b4-9110-427e-a2a0-6c623066bfd6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(23.85461606160698%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-0c732e4d-6ea7-429d-9347-9832d753c8d2","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-3675f035-d9d1-4d00-8a3d-07960d3b3e84","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] SC directed market regulator SEBI to complete its probe into two pending cases (out of a total 24) in 3 months.

Adani Group stocks volatile after Supreme Court directs SEBI to complete probe in three months

[{"selector":"#anim-17c4bc3d-ef6a-4dd1-99fe-1ea411cef4a7","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] Thanks For Reading! Read More