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 more than $140bn 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 apprise the court and the expert panel of its findings within two months. The committee is also tasked with assessing if there has been regulatory failure in this situation and to suggest measures for strengthening regulatory framework. ..