Adani Group row: Supreme Court to hear plea seeking probe into Hindenburg Research report today
SC on Adani row: The plea has also demanded a court-monitored probe, under the leadership of a retired apex court judge, into the report which has made a slew of allegations against the Adani Group.
SC on Adani row: In the latest development to the ongoing Adani row, the Supreme Court has agreed to hear a plea, on Friday, seeking the formation of a committee to probe into the Hindenburg Research report.
According to the information, the plea has also demanded a court-monitored probe, under the leadership of a retired apex court judge, into the report which has made a slew of allegations against the Adani Group. Advocate Vishal Tiwari filed the plea, mentioning the matter for urgent listing before Chief Justice DY Chandrachud-led bench.
In his petition, Tiwari called for an urgent hearing, claiming the matter has "tarnished the image of the country." He also told the bench that a separate plea filed on the issue is scheduled to be listed for hearing on February 10.
SC agrees to hear issue with main matter
"A similar petition is coming up tomorrow (Feb 10). This pertains to the Hindenburg Research report which has tarnished the image of the country and caused the loss," he stated. Advocate Tiwari also urged the bench that his plea be also heard on Friday along with the separate plea."All right. Tag and list it with the main matter," the CJI said.
Further, Tiwari has also sought directions to set up a special committee to form a special committee to oversee the sanctioning of loans to large corporations totalling more than Rs 500 crore.
Last week, another PIL was filed in the apex court by advocate ML Sharma seeking prosecution of short seller Nathan Anderson of US-based firm Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the "artificial crashing" of Adani Group's stock value in the market.
About Adani row
It should be mentioned here that the Adani Group equities have suffered on the stock exchanges after Hindenburg Research levelled a slew of accusations against the corporate behemoth, including illegal transactions and share-price manipulation. However, the Adani Group has denied the accusations, claiming that it abides by all legal and disclosure obligations.
Meanwhile, both Houses of the parliament have witnessed uproar over the last few days as Opposition parties have demanded sought a Joint Parliament Committee (JPC) or a Supreme Court-monitored investigation into the alleged "economic scam" allegations by a US-based short seller against the Adani Group.