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Published Jan 3, 2024 at 9:44 PM IST

INDI Bloc's Adani narrative crumbles, SC refuses SIT in Hindenburg case

Supreme Court granted relief to the Adani Group in the Hindenburg case. The apex court has refused to transfer the probe from SEBI and form a special investigation team (SIT). In a significant development, the Supreme Court rejected key demands of petitioners seeking to derail the ongoing SEBI investigation into allegations raised by Hindenburg Research. ​The Supreme Court today delivered its judgment on a bunch of petitions seeking an investigation into allegations of accounting fraud and stock manipulation against Adani group companies, published in a research report by US short-seller Hindenburg Research in January 2023. The Supreme Court said that cannot enter into the domain of the regulatory regime and that the report by Hindenburg “or anything like that” cannot become the basis of a separate probe. 

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