Adani Hindenburg row: Industrialist Gautam Adani met NCP leader Sharad Pawar today at his Mumbai home, days after Pawar spoke out in favour of the industrialist in response to claims of stock manipulation made by a report from US-based short-seller Hindenburg Research. According to insiders, the key meeting at Pawar’s home in Mumbai, Silver Oak, lasted about two hours and took place at a time when the Opposition is calling for a Joint Parliamentary Committee (JPC) investigation into the matter.
BJP will have a majority in the JPC
Sharad Pawar expressed his support for the Adani group earlier this month and criticised the narrative surrounding the Hindenburg report on the firm. Pawar stated he was in favour of a Supreme Court committee to investigate the claims against the Adani group because the BJP will have a majority in the JPC due to its numerical strength in parliament, casting doubt on such a probe. This is going against the attitude of the BJP’s ally, the Congress.
Six-member committee to investigate
The Adani Group has refuted the charges and stated that it adheres to all laws and transparency norms. A lengthy range of allegations, including ones of dishonest business dealings and share price manipulation, were made against the corporation by the short-seller. Last month, the Supreme Court ordered the creation of a six-person committee to look into several stock market regulation concerns, including the recent decrease in the share price of Adani Group caused by the Hindenburg accusations. A Supreme Court judge who has retired will serve as the committee’s chairman.
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