The Supreme Court has scheduled hearing on February 13 on two PILs on inquiry into the Hindenburg report on the Adani group. During the hearing, the Supreme Court said, the vexing thing is, how do we protect the interest of Indian investors? Chief Justice DY Chandrachud. A bench of Justices Narasimha and JB Pardiwala instructed Solicitor General Trishar Mehta, representing SEBI, to protect Indian investors from sudden volatility.
The Supreme Court has also suggested setting up a committee of experts and others in this field, so that a robust process can be adopted to protect the interests of investors. The Solicitor General told the Supreme Court that market regulator SEBI and other statutory bodies are taking necessary steps. The Supreme Court was hearing a petition seeking a direction to the Center to form a committee headed by a retired Supreme Court judge to look into the Hindenburg Research Report on a business group led by industrialist Gautam Adani.
Share prices of Adani group companies saw a sharp decline after Hindenburg Research leveled several serious allegations against Adani Group including wrongful dealings and manipulation of share prices. The Adani group has denied all the allegations and said it follows all laws and policies.