SC panel report on Adani: A roundabout way of saying nothing

In essence, the committee seems to have taken shelter behind noise around legislative and regulatory changes, and the pending SEBI investigation, to conclude little.

An expert panel formed by the Supreme Court to probe regulatory failures with regards to related-party transactions and alleged manipulation of Adani group stocks has come out with a report that avoids giving any tangible conclusions. 

The committee, set up in the wake of a short-seller report by US-based Hindenburg Research against Adani in January, said it won’t be able to conclude at this stage if the Securities and Exchange Board of India failed in dealing with the alleged contravention of security market laws. 

The panel was set up on 2 March—and met various market participants and SEBI officials—to look …


Aakriti Bhalla

Aakriti used to write at the intersection of public markets and large corporations. She joined The Morning Context from The Financial Express, where she was with the markets team, and before that had started out in business journalism as a correspondent with Reuters.




Ujval Nanavati

Ujval leads our Business vertical at The Morning Context. In a corporate career spanning 14 years, he has worked across startups, consulting firms, multinational corporations and large Indian companies, including India Infoline, ICICI, KPMG, Tata Steel and Jubilant Pharma. Ujval has been a freelance writer and trainer for eight years, with bylines in Forbes India and The Economic Times.

Editor, Business