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The Hindu
The Hindu
National
Krishnadas Rajagopal

Supreme Court upholds SEBI probe, turns focus on ‘conduct’ of Hindenburg

SEBI Hindenburg Adani Prashant Bhushan the Supreme Court Adani Group The Securities and Exchange Board of India DRI D Y Chandrachud Somasekhar Sundaresan

The Supreme Court on January 3 trained the spotlight on the “conduct” of Hindenburg Research, directing the Securities and Exchange Board of India (SEBI) and investigating agencies of the Centre to probe and, if necessary, take “suitable action” if the losses suffered by Indian investors due to the short position taken by the U.S.-based firm in the Adani Group through U.S.-traded bonds and non-Indian traded derivative instruments involved any infraction of law.

The direction came in a 46-page judgment based on petitions claiming “precipitate decline” in investor wealth and volatility in the share market due to a fall in the share prices of the Adani Group following a report published by “activist short seller” Hindenburg Research on January 24, 2023.

Adani-Hindenburg case verdict | No ground to transfer the investigation from SEBI to SIT, says SC

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