SC Dismisses Plea Seeking SEBI Report In The Hindenburg-Adani Group Matter

The Indian apex court rejected the application challenging the Supreme Court’s Registrar order dated August 5, 2024, which refused to register the earlier application in the matter

Earlier in August 2024, a fresh appeal was filed in the Supreme Court which urged the court to direct SEBI to conclude the pending investigations against the Adani Group and its companies

Source : PTI

The Supreme Court (SC) dismissed an application on Monday in the Hindenburg-Adani Group matter. The application was submitted by a lawyer seeking the Securities and Exchange Board of India (SEBI)’s investigation report in the matter.

However, the Indian apex court rejected the application challenging the Supreme Court’s Registrar order dated August 5, 2024, which refused to register the earlier application in the matter, reported ANI.

Supreme Court dismisses an application in US short seller firm Hindenburg-Adani group matter.

Supreme Court dismisses the application filed by a lawyer who challenged the apex court’s Registrar order of August 5, 2024, which declined to register his previous application in the… pic.twitter.com/c9zwE07g33

— ANI (@ANI) January 27, 2025

Previous Pleas And Reports

Earlier in August 2024, a fresh appeal was filed in the Supreme Court which urged the court to direct SEBI to conclude the pending investigations against the Adani Group and its companies. The application was filed by Vishal Tiwari, who earlier also submitted a plea seeing CBI probe in the allegations made by the Hindeburg Research report against the Adani Group.

Notably, the US-based short seller, Hindenburg Research, released a report back in January 2023 alleging that the Adani Group has been involved in stock manipulation and accounting fraud spanning decades. The report alleged that the Adani Group participated in fraudulent activities like money laundering, using fake import-export documentation, etc. All these claims were vehemently denied by the Adani Group.

The research firm followed this up with a second round of accusations in August 2024, alleging that the SEBI Chairperson Madhabi Puri Buch was reluctant to act on the original report due to a conflict of interest and along with her husband was involved in investments in offshore funds linked to the company. Both Buch and her husband, Dhaval Buch, completely denied all the allegations.