Delay in hearing of PILs in Adani-Hindenburg case, SC assures to look into the matter

Supreme Court to consider plea for listing of PILs on Adani-Hindenburg dispute. Advocate Prashant Bhushan, appearing for one of the petitioners, told a bench of Chief Justice DY Chandrachud and Justices JB Pardiwala and Manoj Mishra that these PILs were to be listed on August 28. However, the matter was postponed. To this, the CJI replied, 'I will check with the court registry.'

On July 11, the top court asked the Securities and Exchange Board of India (SEBI) about the status of its ongoing investigation into allegations of stock price manipulation by the Adani Group. The court had given time till August 14 to SEBI for an investigation and said that the investigation should be completed soon. Later, the capital markets regulator filed a status report on the Adani-Hindenburg probe and said it was awaiting information from the tax haven.

Sebi had said in its report that it has completed an investigation into all the allegations except two against Adani Group and is still awaiting information from five tax havens about the real owners of foreign investors investing in the group. The report said that out of the 24 cases being investigated, the findings in 22 are final. Without disclosing the outcome of its investigation, SEBI had given detailed details of the steps taken during its investigation, including related party transactions.