Adani-Hindenburg row: SC agrees to hear fresh PIL of Congress leader on February 17

PTI, Feb 15, 2023, 11:37 AM IST

New Delhi: 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.

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.

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.