The Supreme Court has rejected petitions seeking a court-monitored SIT probe into the allegations part of the Hindenburg Research report about stock price manipulation by the Adani Group.
The court said its power to enter the regulatory framework of SEBI is limited. “Investigative reports by press can act as inputs for SEBI but cannot be taken as credible evidence or a proof of regulatory failure by SEBI and it cannot cast doubt on the investigation being carried on by a statutory body,” it said, in a reference to a series of media reports reiterating the allegations of the Hindenburg report, according to Bar and Bench.
