On Thursday, the Supreme Court agreed to hear a petition asking for a directive to the Centre to establish a committee to examine the accusations made in the Hindenburg Research report against the Adani Group. The petition is asking for the committee to be headed by a retired Supreme Court judge.
The petition has been filed by Advocate Vishal Tiwari, who asked that the case be listed urgently before a bench presided over by Chief Justice D.Y. Chandrachud. Tiwari informed the court’s bench, which also included Justices PS Narasimha and JB Pardiwala, that a separate appeal filed over the matter is slated to be heard on February 10.
He requested the judge to hear his plea and the separate plea together on Friday. In his public interest lawsuit (PIL), Tiwari has also asked the court to order the formation of a special committee to supervise the sanctioning of loans of more than Rs 500 crore.
Another PIL was submitted in the Supreme Court last week by attorney M.L. Sharma, asking for the prosecution of short seller Nathan Anderson of the US company Hindenburg Research and his associates in India and the US for allegedly taking advantage of unsuspecting investors and the “artificial crashing” of the market value of Adani Group’s stocks.
The Adani Group equities have suffered on the stock exchanges following a slew of accusations from Hindenburg Research against the corporate behemoth, including illegal transactions and share-price manipulation. The Adani Group has denied the accusations, claiming that it abides by all legal and transparency obligations.