New Delhi: Petitions related to the Adani-Hindenburg case are coming up for hearing in the Supreme Court tomorrow. A bench comprising Chief Justice Chandrachud, Justices Narasimha and Paridiwala will hear these petitions.
Last January, US-based Hindenburg Company published a report on Adani Group. In it, Hindenburg alleged that the Adani Group was involved in various irregularities including stock rigging. Following this, Adani Group’s share price suffered a sharp fall. Adani Group suffered a loss of Rs 11 lakh crore. People who had invested in Adani companies were affected.
In this case, petitions were filed that the veracity of the Hindenburg report should be investigated and a safe framework should be established for investors in the stock market.
After hearing these petitions, the Supreme Court constituted a 6-member panel headed by retired Justice Sabre to examine the regulations of the Securities and Exchange Commission (SEBI) and ways to strengthen the stock market structure. The committee has submitted its report. At the same time, SEBI has filed a petition in the Supreme Court seeking more time to conduct the investigation.
