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The Hindenburg report related to the Adani group is now going to be heard in the Supreme Court. The SC has accepted the petitions challenging the report. The petitioners had claimed that the foreign firm had entered into a conspiracy, causing loss to the investors. Discussions are going on in India regarding this report from street to parliament.
The apex court is going to hear the petitions on Friday. Two separate petitions were filed by advocates ML Sharma and Vishal Tiwari against the Hindenburg Research Report. The petitions allege that Hindenburg conspired to short sell Adani stocks, causing huge losses to investors.
Petitioner Advocate Tiwari had on Thursday asked for the matter to be listed for urgent hearing before Chief Justice DY Chandrachud. He informed the bench that another petition has been filed in the matter, which is to be listed for hearing on February 10. The CJI-led bench comprises Justice PS Narasimha and Justice JP Pardiwala.
He appealed before the bench that his petition be heard on Friday along with other petitions. Tiwari has also sought directions to set up a special committee to oversee the policy for sanctioning loans above Rs 500 crore to large companies.
What in the Hindenburg report?
A report titled ‘Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History’, released on January 24 this year, alleged that the Adani Group was involved in stock manipulation. Along with this, there was also talk of accounting fraud being done for decades in the report. Adani Group’s shares were badly affected after the report surfaced.
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