Adani-Hindenburg Row: Supreme Court Agrees To Hear Fresh PIL of Congress Leader Seeking Investigation on February 17
A bench comprising Chief Justice D Y Chandrachud and Justice P S Narasimha took note of the submissions of a lawyer, representing Congress leader Jaya Thakur, that the plea needed urgent hearing.
New Delhi, February 15: The Supreme Court on Wednesday agreed to hear on February 17 a fresh plea of a Congress leader seeking investigation under the supervision of a sitting apex court judge against the Adani Group of companies in light of the allegations made by the US-based Hindenburg Research.
A bench comprising Chief Justice D Y Chandrachud and Justice P S Narasimha took note of the submissions of a lawyer, representing Congress leader Jaya Thakur, that the plea needed urgent hearing. Hindenburg Report on Adani Group: SEBI Competent to Handle Situation, Says Government in Supreme Court; Agrees on Formation of Panel To Protect Investor Interests.
The bench initially agreed to list the PIL for hearing on February 24 and later decided to hear on Friday after the lawyer pointed out that two other PILs are listed on February 17.
Thakur has also sought a direction for investigating the role of the Life Insurance Corporation of India (LIC) and the State Bank of India (SBI) in investing huge amounts of public money in Adani Enterprises. Adani-Hindenburg Row: PM Narendra Modi, His Government Cannot Hide From Questions Saying 'Hum Adani Ke Hain Kaun', Says Congress.
On Monday, the Centre had agreed to the apex court's proposal to set up a panel of experts to look into strengthening the regulatory mechanisms for the stock market following the recent Adani group shares crash triggered by Hindenburg Research's fraud allegations. The top court seized of two petitions alleging exploitation of innocent investors and "artificial crashing" of the Adani Group's stock value.