The Supreme Court agreed on Wednesday to hear a new petition from a Congress leader on February 17. The Congress leader wants the Adani Group of companies to be investigated by an apex court judge because of what Hindenburg Research has said.
Chief Justice D. Y. Chandrachud and Justice P. S. Narasimha listened to a lawyer for Congress leader Jaya Thakur say that the case needed to be heard as soon as possible.
When the lawyer pointed out that two other PILs were scheduled for February 17, the bench changed its mind and decided to hear the case on Friday.
Thakur has also asked for guidance on how to look into the roles of the Life Insurance Corporation of India (LIC) and the State Bank of India (SBI) in investing huge amounts of public money in Adani Enterprises.
On Monday, the Centre agreed to the apex court’s plan to set up a group of experts to look into how to improve the stock market’s regulatory systems. This was in response to the recent crash of Adani group shares, which was caused by Hindenburg Research’s claims of fraud.
Two petitions said that innocent investors were taken advantage of and that the stock value of the Adani Group was “artificially crashed.”