BREAKING: Supreme Court Appointed Expert Committee Gives Adani Group a Clean Chit

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The Supreme Court-appointed Expert Committee has given a clean chit to the Adani Group, stating that there is no evidence of price manipulation, violation of related party transaction norms, or non-disclosure of foreign portfolio investment (FPI) by the group.

The Expert Committee was appointed by the Supreme Court in 2022 to investigate allegations of wrongdoing by the Adani Group. The committee was headed by former Supreme Court judge Justice RV Raveendran and had two other members, former RBI deputy governor Rakesh Mohan, and former SEBI chairman CB Bhave.

The committee submitted its report to the Supreme Court on May 18, 2023. The report found no evidence of price manipulation, related party transaction norms violation, or non-disclosure of FPI by the Adani Group.

The report stated that the Adani Group has been a major contributor to the Indian economy and has played a significant role in the country's growth. The report also stated that the Adani Group has complied with all applicable laws and regulations.

The report has been welcomed by the Adani Group and its supporters. They have said that the report vindicates the group's stand and that it is a clear indication that the group has been wrongly targeted.

The report has also been welcomed by the government. The government has said that the report is a positive development and that it will help to boost investor confidence in the country.

The report is likely to have a significant impact on the Adani Group and the Indian economy. The report has cleared the group's name and is likely to boost investor confidence in the group. The report is also likely to have a positive impact on the Indian economy, as it will help to attract more investment into the country.

Here are the three main points of the Expert Committee Report:

  1. No evidence of price manipulation: The report found no evidence that the Adani Group had manipulated the prices of its products or services.
  2. No evidence of a violation of related party transaction norms: The report found no evidence that the Adani Group had violated any related party transaction norms.
  3. FPIs invested in Adani have made complete disclosures: The report found that all FPIs invested in the Adani Group had made complete disclosures to the Securities and Exchange Board of India (SEBI).

The report is a positive development for the Adani Group and the Indian economy. The report has cleared the group's name and is likely to boost investor confidence in the group. The report is also likely to have a positive impact on the Indian economy, as it will help to attract more investment into the country.

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