On January 27, 2025, the Supreme Court of India dismissed an application requesting the Securities and Exchange Board of India’s (SEBI) investigation report concerning allegations made by Hindenburg Research against the Adani Group. The application, filed by a lawyer, challenged the Registrar’s August 5, 2024, order that had declined to register a prior application related to this matter.
This decision aligns with the Supreme Court’s consistent stance on the issue. Previously, on January 3, 2024, the court refused to transfer SEBI’s investigation to a Special Investigation Team (SIT) or the Central Bureau of Investigation (CBI), expressing confidence in SEBI’s regulatory capabilities.
In its January 3, 2024, judgment, the Supreme Court emphasized that there was no substantial evidence to suggest regulatory failure by SEBI, thereby negating the need for an independent investigation. The court also dismissed allegations of conflict of interest against members of the expert panel reviewing the case.
The dismissal of the recent application reinforces the judiciary’s trust in SEBI’s ongoing investigation into the Adani-Hindenburg controversy. It underscores the court’s position that SEBI is adequately equipped to handle the complexities of the case without additional judicial intervention.
Source: Web Team, C6N
