New Delhi: The Supreme Court on Friday approved a petition seeking an order to the Center to investigate the Hindenburg Report on Adani Group corruption by a panel headed by a retired Supreme Court judge.
Advocate Vishas Tiwari on Thursday filed a petition seeking a probe into the Hindenburg report on the Adani Group before a bench of Chief Justice DY Chandrachud. He requested that his petition be heard as an urgent case.
He further said, “A similar petition has been filed before a bench of Justices PS Narasimha and JP Pathriwala. The petition regarding the Hindenburg report which has damaged the reputation of the country and caused loss has been listed for hearing on Friday, February 10. This petition will also be heard immediately as a separate petition. should be taken,” he said. Following this, the Chief Justice ordered the petition to be listed.
In the public interest petition filed by Advocate Tiwari, “When the value of shares in the stock market falls due to various reasons, it changes the fate of people and puts them in a dire situation. Many people have invested their life savings in such stocks. Such a total sink of money will affect their lives greatly.
The Hindenburg Research Institute’s report launched an unprecedented attack on the Adani empire, sending the market value of 10 Adani stocks plummeting, hitting investors hard. “The authorities have not been able to take any concrete steps in this attack on the country’s economy,” he said.
In this petition, the Central Government, Reserve Bank of India and SEBI, the stock market regulatory body, have also been joined as respondents.
Earlier, the US-based Hindenburg Research Institute had published a report accusing the Adani Group of various irregularities and high debt. Following this, the share value of Adani Group companies fell sharply. Meanwhile, it is noteworthy that the Adani Group had explained that the Hindenburg thesis was false and had the intention of hindering India’s development.