Suspense Crime Sach Ka Dam
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Adani Hindenburg Case: The Supreme Court has once again heard the Adani-Hindenburg case. After hearing the arguments in favor of SEBI in this case, the Supreme Court has given time till August 14 for the investigation. Earlier, SEBI had asked for six months time for investigation. However, now there is a new update on this and an expert committee of the Supreme Court has said that there is no need to give more powers to SEBI. Apart from this, the Supreme Court also said that SEBI’s enforcement policy needs further reforms.
Suspicious trade cases detected
Before the Hindenburg Report Supreme Court Panel Cases of suspicious trading in the group company have come to light. It is to be noted that after the Hindenburg report of Adani Group came out on January 24, the shares of the companies associated with the group saw a huge decline. Investors who bought shares of Adani Group suffered huge losses at that time. After this, an expert committee of the Supreme Court was constituted under the chairmanship of AM Sapre.
SEBI had sought six months for the investigation
During the hearing in the Supreme Court on May 15 in this matter, SEBI sought six months more time for investigation. But while hearing the case on May 17, the court extended the SEBI probe for three months. The next hearing of the Adani-Hindenburg case will now take place on July 11. The case is being heard by a bench of Chief Justice Chandrachud, Justice Narasimha and Justice Pardiwala.
In this regard, on March 2, the Supreme Court had directed SEBI to investigate any violation of securities laws by the Adani group in the Hindenburg report. Sebi, in an affidavit submitted to the court on May 14, said that the allegation that Sebi has been probing Adani companies since 2016 is baseless. SEBI has already clarified that no group company has been probed since 2016.
