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Adani Group-Hinderberg: The matter of Hindenburg Research Report on Adani Group has now reached the threshold of the country’s Supreme Court. The Supreme Court will hear a petition filed in the court on Friday, February 10, 2023. In this petition, a committee has been formed to investigate the allegations of Hindenburg Research on Adani Group and a retired judge of the court has been demanded to be monitored.
Advocate Vishal Tiwari has filed this petition in front of the bench headed by Chief Justice DY Chandrachud and has demanded a hearing on it as soon as possible. The petitioner told the court that a separate petition has also been filed in this matter, which is going to be heard on February 10. He asked the bench to hear his plea along with his plea.
The PIL filed by Vishal Tiwari before a bench comprising Chief Justice DY Chandrachud, Justices PL Narasimha and Justice JB Pardiwala, in addition to probing Hindenburg Research’s allegations on the Adani group, asking big corporates to pay more than Rs 500 crore There has also been a demand to form a special committee to review the policy on loans given in excess. Last week, advocate ML Sharma filed a petition seeking legal action against short seller Nathan Anderson and his associates in India on the allegations of Hindenburg Research. In his petition, he accused of looting the investors of the country and artificially reducing the shares of Adani Group.
On 24 January 2023, Hindenburg Research made a number of allegations against the Adani group, including the allegation of wrongly selling the stock. Although the Adani group had rejected these allegations outright. After Hindenburg’s allegations, the shares of Adani Group have fallen by more than 65 percent.
There is also a political uproar on this issue. Apart from the Congress, all the opposition parties are demanding an inquiry into the matter by the Joint Committee of the Parliament ie JPC.
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