Supreme Court will hear petitions to investigate the Hindenburg Report against the Adani Group tomorrow.

Following the stock market decline in the Adani group shares following the release of a report by US-based short-selling company Hindenburg Research, another PIL has been filed in the Supreme Court of India. The PIL petitioner, attorney Vishal Tiwari, brought up the case today for an urgent listing before Chief Justice DY Chandrachud, Justice PS Narasimha, and Justice JB Pardiwala. The PIL Tiwari filed asks for the creation of a committee with a retired Supreme Court judge as its chairman to look into the information in the Hindeburg Research Report.
In response to the request, the CJI ordered that the PIL be tagged with another one that would be heard tomorrow (10th February 2023).
The other petition in question, submitted by advocate and frequent litigant ML Sharma, seeks to classify “short-selling” as a fraud offense. In the aforementioned petition, Nathan Anderson, the founder of Hindenburg, is accused of “exploiting unsuspecting Investors by short selling under the guise of fake crashes” and is calling for a probe.

This news is written by Mr. Manpreet Rathor, Research Assistant, All India Legal Forum.