New Delhi: A day after the apex court stated that no new probes were needed into Hindenburg Research's bombshell allegations against billionaire Gautam Adani, the tycoon surpassed Reliance Industries Limited Chairman Mukesh Ambani and became India’s richest person.
Adani's net worth rose $7.7 billion in a day to $97.6 billion, marginally higher than Mukesh Ambani’s $97 billion – on the Bloomberg Billionaires Index, making him the 12th richest individual in the world.
On Wednesday, Gautam Adani welcomed the ruling of the Supreme Court declining to transfer the probe into the Adani-Hindenburg matter from market regulator SEBI to a SIT (Special Investigation Team) or the CBI. Adani tweeted saying that the judgement shows that truth has prevailed and said he was grateful to those who stood by the Adani Group."Satyameva Jayate. I am grateful to those who stood by us," he posted on X. "Our humble contribution to India's growth story will continue," the X post added.
In a relief to the Adani group of companies, a bench of Chief Justice of India DY Chandrachud, PS Pardiwala and Manoj Misra said the scope of power of the apex court to enter into the regulatory domain of SEBI is limited. It said the scope of judicial review is only to see whether any fundamental right has been violated.
The verdict of the top court came on a batch of petitions seeking a court-monitored investigation or CBI probe into the allegations made by US-based firm Hindenburg Research against the Adani group of companies regarding violations of the stock market.
