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Adani-Hindenberg issue: Another public interest litigation has been filed in the Supreme Court regarding Hindenburg’s report on Adani Group. This is the third PIL filed in the Supreme Court regarding this matter. In this petition, State Bank of India and LIC have demanded to investigate the investment of common investors’ money in Adani group companies. In this petition, a probe has been demanded against Adani group companies under the supervision of a Supreme Court judge.
Congress leader Jaya Thakur has filed this petition. It has been said in this petition that LIC and SBI had invested in the FPO of Adani Enterprises at a price of Rs 3200 per share while the share price in the secondary market had fallen to Rs 1800.
In the petition, Central Government, Ministry of Home Affairs, CBI, ED, CBDT, DRI, NCB. Petitions have been filed against SEBI, RBI, SFIO, LIC, SBI and Adani Group. Even before this, two petitions were filed in the Supreme Court regarding the Adani-Hindenburg case. Advocate Visal Tiwari and Advocate ML Sharma had filed this petition, which will be heard again in the Supreme Court on February 17, 2023.
During the hearing on the matter on February 13, Solicitor General Tushar Mehta told the court that he had no objection to the formation of a committee to strengthen the existing regulatory mechanism to protect the interests of investors.
On the other hand, the stock market regulator SEBI has indicated to the Supreme Court that it is not in favor of short selling. Also, SEBI has said that it is investigating Hindenburg’s allegations regarding the fluctuations in the shares of Adani Group and its companies. SEBI has said this before the bench headed by Chief Justice DY Chandrachud which is hearing the matter.
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