The petition asked for a retired judge from the Supreme Court to oversee an investigation of the report. The court should instruct the central government to constitute a committee for this purpose, according to the petition.
The petition’s writer, attorney Vishal Tiwari, brought up the matter’s urgent listing before a bench presided over by Chief Justice DY Chandrachud on Thursday.
SC agrees to hear on Friday plea seeking court-monitored probe into Hindenburg Research report on Adani firms
He informed the bench that a second petition filed about the matter has a hearing date of February 10 scheduled. He requested that his plea and a different petition be heard by the bench on Friday. Justices J B Pardiwala and PS Narasimha were also on the bench.
Stocks of most companies in the Gautam Adani-led Adani Group jumped on Tuesday, with shares breaking their downward trend. Everyone is seeing rapid growth, from Adani Wilmar to Adani Transmission.
Since the stock market opened, the price of Adani Enterprises’ stock has increased by a startling 20%. Following the release of the group report by the American research firm Hindenburg on January 24, 2023, these shares saw a decrease.
Shares of Adani have risen dramatically. Let’s start by discussing the increase in shares of Gautam Adani’s enterprises, Adani Wilmar Ltd, which rose 4.99 percent to Rs 398.90 as of the news’ publication time at 01:12 am. However, Adani Transmission Ltd was up 5% and traded at a level of Rs 1,319.25.
The decline came from Hindenburg’s report
Let us inform you that there was a sharp decrease in the price of Adani Group shares following the release of the report by the American research firm Hindenburg. The shares of the Adani Group decreased by 66 percent as a result of this report. Along with this, the group’s market valuation declined by $ 117 billion, and on Monday, Gautam Adani fell from fourth to number 22 on the list of the world’s top billionaires.
Forbes 2022 has published a list of the 100 richest people in India. All of these people’s combined net wealth has climbed by $25 billion to $800 billion. The wealth of the top 100 persons have climbed despite the stock market’s decline from a year ago.
Forbes estimates that the entire assets of Gautam Adani, chairman of the Adani Group, are Rs 1,211,460.11 crore. As of 2022, he is currently ranked number one due to his wealth increase in 2021.
Gautam Adani
There are 710,723.26 crores worth of assets owned by Mukesh Ambani, chairman of Reliance Industries (RIL). It’s the first time since 2013 when his ranking dropped to number 2.
Mukesh Ambani
The third person on the list is the owner of the DMart business, Radhakishan Damani. His 222,908.66 crore rupee net worth. Damani started out in the retail industry in 2002 with just one store; today, Dmart has 271 locations nationwide.
Radhakishan Damani
The total assets of Cyrus Poonawala, chairman of Serum Institute of India (SII), the largest maker of vaccines in the world, are Rs 173,642.62 crore. His business has signed multiple contracts to produce Covid-19 vaccines. On Poonawala’s property are stud farms as well.
Shiv Nadar, chairman of HCL Technologies, has a net worth of Rs 172,834.97 billion. One of the leading businessmen in the Indian IT industry is Shiv Nadar. In the current year, he gave 662 million dollars to projects involving education. Despite the fall in fortune, he still managed to land in the top 10.
The CEO of OP Jindal Group, Savitri Jindal, is the only woman in Forbes’ top 10 list of billionaires who is also a working politician. His whole net worth is Rs 132,452.97 crore.
Sun Pharmaceuticals founder Dilip Shanghvi has a total worth of Rs 125,184.21 crore. Hinduja Brothers are in the eighth spot after this. Srichand, Gopichand, Prakash, and Ashok are a few of the four brothers and sisters of Hinduja. Parmanand Deepchand Hinduja founded the Hinduja Group in 1914. His entire net worth is Rs 122,761.29 crore.
The total wealth of Kumar Birla, chairman of the Aditya Birla Group, is 121,146.01 crores. The ninth-placed Kumar Birla’s company deals in everything from clothing to cement.
Gautam Adani is now the world’s second richest person. As of now, Gautam Adani is the only billionaire in the top-10 list after Elon Musk. In order to move up to this position in the Forbes Real Time Billionaire Index, Gautam Adani passed Bernard Arnault. He remains in third place on Bloomberg‘s Billionaire Index.
The main source of Adani’s riches is its publicly held ownership interest in the Adani Group, which is where it got its start. According to a March 2022 stock exchange filing, he has a 75% ownership stake in Adani Enterprises, Adani Power, and Adani Transmission. He has 37% of Adani Total Gas, 65% of Adani Ports and Special Economic Zones, and 61% of Adani Green Energy under his control. These businesses are all situated in Ahmedabad and are all publicly listed.
Forbes Real Time Billionaire Index List
Adani’s business journey
According to Bloomberg, Adani is India’s top port operator, producer of thermal coal, and trader of coal. Gujarat is where Gautam Adani was born. After dropping out of college, he traveled to Mumbai as a youngster and worked in the diamond industry before going back to his home state.
Polyvinyl chloride (PVC) imports for his brother’s plastics company marked the beginning of his international enterprise. Adani Enterprises, the group’s primary business for the import and export of goods, was founded by him in 1988.
In 1994, Adani Enterprises requested permission from the Gujarati government to establish a port facility at Mundra Port for the purpose of handling its own cargo. Adani chose to transform the project into a commercial port after realizing its potential. By personally negotiating with more than 500 landlords across India to construct India’s largest port, he created rail and road connectivity. In 2009, Adani started producing electricity.
On Sunday, the son of former union minister Praful Patel, Prajay will get married at the prestigious Rambagh palace hotel in the Jaipur – Pink City. Shivika Poonglia is the daughter of Jaipur-born jeweler Shirish Poonglia, who is based in Mumbai now.
A total of 35 chartered planes are taking VIP guests from the entertainment community and business community to Jaipur for the wedding. Among those who traveled to Jaipur for the ceremony were industrialists such as Anil Ambani, Gautam Adani, and Anil Agarwal of Vedanta Group.
Saturday evening, Salman Khan, Shilpa Shetty, Anil Kapoor, and other celebrities arrived in Jaipur. They will also be present at the wedding on Sunday. Some of the artists performed at the sangeet ceremony on Saturday. High-profile guests have also reserved rooms at five-star hotels in the Pink City.
As part of the grand wedding celebrations, Shiv Sena spokesperson Sanjay Raut, former Indian team coach Ravi Shastri, former Madhya Pradesh chief minister Kamal Nath, and leaders of the Hinduja group Srichand Hinduja and Gopichand Hinduja have all traveled to Jaipur to witness the ceremony.
Security at the Rambagh Palace Hotel was increased, and no outsiders were allowed into the hotel without proper identification.
According to official sources in Colombo and New Delhi, Gautam Adani, chairman of the Adani Group chosen to develop a major port terminal project in Sri Lanka, will meet President Gotabaya Rajapaksa in Colombo on Monday, 25 October.
According to a senior official, Mr. Adani would be meeting the President to discuss the West Container Terminal project during the private visit on Sunday night (24) night.
Despite requesting anonymity, the source confirmed that a “high profile visit” would include meetings with “top Sri Lankan dignitaries”.
Adani’s visit comes less than a month after the Adani Group, in a virtual ceremony, signed a Build-Operate-Transfer (BOT) agreement with its Sri Lankan partner in the project John Keells Holdings, and the Sri Lanka Ports Authority (SLPA), to jointly develop the West Container Terminal (WCT) at the Colombo Port.
The Hindu reported that Adani is interested in collaborating on ports, power, and renewable energy projects in Sri Lanka, according to sources in India familiar with the development.
“When Adani meets President Rajapaksa, he will discuss possible projects in these sectors,” a source told The Hindu.
Sri Lanka’s decision early this year to scrap a trilateral agreement with India and Japan to jointly develop the East Container Terminal at the Colombo Port sparked controversy, so the Rajapaksa government offered the WCT project as “a compromise”.
According to The Hindu, unlike the earlier ECT project, there is no Indian government involvement in the WCT project, with the Adani Group participating as a private investor, amid questions from Sri Lankan experts regarding the lack of transparency surrounding how the investor was selected.
On March 15, 2021, Adani tweeted confirmation of the project: “Grateful to the leaders of GoI, GoSL, SLPA & John Keells for the opportunity to build WCT, Colombo.” A partnership as significant as this is a symbol of deep strategic ties between nations with long histories that are interwoven. The container industry will grow for decades.”
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