The Adani vs Hindeburg row will resume its course of fate in Supreme Court today. As per updates, the apex court would hear a batch of Public Interest Litigations (PILs) seeking investigation into the Adani-Hindenburg Report issue today.
Along with these PILs, the Supreme Court is also reportedly expected to continue hearing the plea filed by the market regulator, the Securities and Exchange Board of India (SEBI). In its plea, SEBI had asked for an extension of six months in order to complete its probe into the Adani-Hindenburg issue.
Before this, the Supreme Court on Monday adjourned the hearing on SEBI’s plea seeking the extension. The matter was heard by a bench led by Chief Justice of India (CJI) DY Chandrachud, comprising of Justices P S Narsimha and J B Pardiwala.
As per last updates, the apex court may consider a three-month extension and grant that to the SEBI, if not six months.
In its submission, SEBI told the Supreme Court that no listed company of the Adani Group was a part of the 51 companies that the market regulator was investigating. In response to the filing by SEBI, the Finance Ministry also responded that all the claims by the market regulator saying that no Adani company was being investigated from 2016, are baseless.
Since the Adani-Hindenburg soup became a big issue, the Supreme Court, on March 2, also set up an expert committee on the issue after the Hindenburg Research alleged fraud and stock manipulation by the Adani Group.
