Adani-Hindenburg Report: SC Agrees To Hear Congress Leader’s Plea On 17th February

The Supreme Court on Wednesday agreed to hear Congress Leader’s petition on Friday, 17^th February seeking investigation against the Adani Group in light of the Hindenburg Research report.

The matter was brought before Chief Justice of India DY Chandrachud for urgent consideration.

CJI agreed to list it on February 24 at first. However, the counsel noted that two other similar cases are scheduled for February 17. The CJI then agreed to tag the petition alongside the other two.

The petition is filed by Congress leader Dr.Jaya Thakur alleging that Gautam Adani and his associates have “swindled lakhs of crores of public money”.

It alleged Adani group of deception and malpractice. The suit claims that the Hindenburg report demonstrates that Gautam Adani, his brother, and their colleagues committed in significant money laundering using a variety of offshore shell companies they established up in different tax havens.

Thakur also seeks probe by investigating agencies like CBI, ED, DRI, SEBI, RBI, SFIO etc under the supervision and monitoring of a sitting judge of the Supreme Court.

Accordingly, the petition demanded an investigation to determine if LIC and SBI’s investments in Adani group companies violated their obligations to investors and the general public.

The petitioner, who currently serves as the general secretary of the Mahila Congress in Madhya Pradesh, claimed that she personally has investments in LIC and a State Bank of India account.

It is also important to note that the Supreme Court is currently considering two other PILs which have sought investigation against Hindenburg Research for causing stock market losses through short-selling.