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The Times of India
The Times of India
Business
TIMESOFINDIA.COM

Adani-Hindenburg row: Supreme Court upholds Sebi's probe, dismisses need for further investigation

SEBI Gautam Adani Hindenburg Hindenburg Research the Adani Group the Supreme Court ACC Adani Group The Securities and Exchange Board of India the Supreme Court of India

In a significant development, the Supreme Court of India has reinforced the Securities and Exchange Board of India's (Sebi) ongoing investigation into the Adani-Hindenburg controversy. The apex court dismissed the need for further probes, emphasizing the adequacy of Sebi's efforts in addressing allegations of accounting fraud and stock manipulation by US short seller Hindenburg Research against the Adani Group.

What's driving the news

The Supreme Court's decision comes amid heightened scrutiny following Hindenburg Research's allegations against the Adani Group, involving fraudulent transactions and share-price manipulation. Petitioners seeking additional investigations cited a report by the Organised Crime and Corruption Reporting Project (OCCRP) and various newspaper articles, which the court found insufficient to undermine Sebi's comprehensive investigation.

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