Adani Hindenburg Saga: In the adani dispute, the supreme court asked the government a big question, and also sought a report from SEBI
Hindenburg Report Controversy: The supreme court will hold the next hearing on this matter on Monday. Then the government has to file its reply. adani Hindenburg Saga: In the adani dispute, the supreme court asked the government a big question, and also sought a report from SEBI.
The supreme court on friday heard the dispute related to the adani Group. During this, the top court asked the central government what measures it has to protect the interest of indian investors in the stock market. This hearing is being done on two petitions demanding an inquiry into the information given in the Hindenburg Report on the bad condition of the adani Group. The supreme court has also sought suggestions from the stock market regulator SEBI as to what measures can be taken in the future to protect investors. The apex court will now hear the matter on Monday. On the next hearing, the central government has to file its reply.
A bench of Chief Justice DY Chandrachud, Justice PS Narasimha, and Justice jb Pardiwala said in the hearing, the stock market runs on emotions. We will not comment on its merits. Our only concern is to safeguard the interest of indian investors. Hearing the PILs of advocates ML Sharma and vishal Tiwari, the bench also sought suggestions from Solicitor General Tushar Mehta, appearing for SEBI. He said they should suggest how to save indian investors from being affected by the sudden volatility seen in the stock market in recent times. The bench also suggested setting up a committee of experts, which could suggest a robust process to protect investor interest. However, the Solicitor General has informed the apex court that all necessary steps have already been taken.
In public interest litigations, Sharma has demanded SEBI and the Union home Ministry to order an inquiry against Hindenburg Research founder Nathan Anderson and his indian associates and register an FIR if necessary. In the second petition, Tiwari demanded an inquiry into the Hindenburg report by a committee headed by a retired supreme court judge.
America's Hindenburg Research published a report related to the adani Group on 24 January. In this, allegations ranging from money laundering to increasing the price of its shares several times more than the original price through manipulation were made on the adani Group. Due to this, there was a huge fall in the prices of shares of adani Group. Also, adani Group had to withdraw its FPO worth Rs 20,000 crore.
