A LITTLE UNDER one year. That’s the time it took for the Adani-Hindenburg matter to reach its conclusion in the Supreme Court— from January 24, 2023, the day the US-based short-seller Hindenburg Research released a report accusing the Indian conglomerate of stock manipulation and financial fraud.
On January 3, 2024, a three-judge bench of the Supreme Court, headed by Chief Justice of India D.Y. Chandrachud, dismissed requests for creating a special investigation team (SIT) or transferring the probe into the allegations levelled by Hindenburg against the Adani Group to the Central Bureau of Investigation (CBI). It reposed faith in capital markets regulator Securities and Exchange Board of India (Sebi).
But this issue is far from over. Sebi is still conducting a probe related to certain allegations made by the US-based entity.
Without a doubt, the past year has been the most tumultuous in the history of the Adani Group, whose business interests span sectors like infrastructure, green energy, cement and FMCG.
The impact of the Hindenburg report was such that the conglomerate’s listed entities shed around $150 billion (`12.41 lakh crore) in market capitalisation just a month following its release.
Bu hikaye Business Today India dergisinin February 04, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Today India dergisinin February 04, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky