New Delhi: The Adani-Hindenburg case is set to take center stage at the Supreme Court of India today. The court will hear petitions related to allegations of stock price manipulation by the Adani Group and regulatory disclosure lapses.
In March, the Securities and Exchanges Board of India was asked to investigate the matter within two months. However, SEBI has now requested a six-month extension to complete the probe.
The hearing is expected to be presided over by a bench comprising Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala. Stay tuned for updates on this crucial case.
This case started in the month of January when Hindenburg brought out a report against Adani groups. It caused Adani’s shares to fall down by 80% or even more in value and following this scenario, the matter was even taken to the Supreme Court. The Supreme Court asked the SEBI to make their investigations on this matter and know whether Adani created artificial demand or not. However, the time for the same has now been extended by six months.