A US-based Hindenburg Research report has turned the continuous rising bull of Adani shares into perpetual bearish mode on the Indian stock market which plateaued Gautam Adani’s wealth below $100 billion and Adani is no longer in the list of the top ten wealthiest people in the world. And Retail investor has lost over 10 lakh crore in Adani Group shares.

This debacle of Adani has invited the attention of the opposition party, How such wealth has been created in such a short span of time without the active support of the current ruling government.

After the Harshad Mehta Scam, SEBI took many regulatory measures to control stock manipulation and insider trading in the Indian stock market . But SEBI still failed to notice the rising Earning per share values(EPS ) of Adani shares above average  EPS of listed shares in the Indian stock market. Why does SEBI ignore such stock manipulation by  Subsidiaries of the Adani  group?

Supreme court has agreed to entertain the petition filed by Congress Leader Jaya Thakur on 17th February which states how Adani Group has manoeuvred and puffed up the Adani shares using unfair methods and the matter has been listed before Chief justice DY CHANDRACHUD as an urgent hearing

A crore of public money has been invested in the FPO of Adani by LIC and SBI which hold large public money while knowing the debilitating financial condition of Adani Group, This raised the important question of how the collusion of government and Adani Group worked for so long without inviting the criticism and inspection of domestic investigating financial agency.

Amid pressure from the opposition, the Center has agreed to form an expert committee to probe into this alleged scandal.