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The Supreme Court in India recently issued a verdict denying calls to appoint a new panel to look into allegations of fraud made against the Adani Group by the short seller Hindenburg Research. Justice Chandrachud stated that there was no ground to warrant a transfer of the investigation from the Securities and Exchange Board of India, and that performance of the Adani Group’s stocks rose 10% instantly following the court’s assertion. Gautam Adani remains one of the world’s wealthiest people, ranking 16th on Forbes’ Billionaires List, with a total net worth estimated at $70 Billion.
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