SC to hear plea seeking probe into Hindenburg Research report on Adani firms

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Gautam Adani. [File Photo]

New Delhi: The Supreme Court has agreed to hear on Friday a plea seeking a direction to the Government of India to constitute a committee monitored by a retired apex court judge to inquire and investigate the Hindenburg Research report on the business conglomerate led by industrialist Gautam Adani.

Advocate Vishal Tiwari, who has filed the petition, mentioned the matter for urgent listing before a bench headed by Chief Justice D Y Chandrachud on Thursday, as per PTI report.

Tiwari told the bench, also comprising Justices P S Narasimha and J B Pardiwala, that a separate plea filed on the issue is scheduled to be listed for hearing on February 10.

“A similar petition is coming up tomorrow,” he said, adding, “This pertains to the Hindenburg Research report which has tarnished the image of the country and caused loss.”

He urged the bench that his plea be also heard on Friday along with the separate plea.

“All right. Tag it,” the CJI said, as per the report.

In his public interest litigation (PIL), Tiwari has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates.

Last week, another PIL was filed in the apex court by advocate M L 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.

The Adani Group stocks have taken a beating on the bourses after Hindenburg Research said that fraudulent transactions and share-price manipulation are being done by the business conglomerate.

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