New Delhi, July 12: The Supreme Court on Tuesday adjourned the hearing on various petitions pertaining to the Hindenburg Research’s report on Adani Group.
A bench headed by Chief Justice of India DY Chandrachud adjourned the hearing observing that SEBI has filed a response to the report to the expert committee yesterday but was not circulated. The apex court asked the financial market regulator SEBI to circulate the court-appointed committee’s report.
Solicitor General Tushar Mehta apprised the apex court about the receipt of the report of the expert committee and SEBI response to the expert committee report. He said that the SEBI report was filed late yesterday and therefore it was placed before the bench.
The Supreme Court had earlier given three more months till August 14, 2023, to the Securities and Exchange Board of India (SEBI) to conduct a probe into Hindenburg's allegations.
On March 2, the apex court directed the capital market regulator SEBI to investigate any violations of securities law by the Adani Group in the wake of the Hindenburg report, which led to a massive wipeout of more than USD140 billion of the Adani Group's market value. The January 24 Hindenburg report alleged stock manipulation and fraud by the conglomerate.
