New Delhi: The Supreme Court will hear two Public Interest Litigations (PILs) related to Hindenburg report on Adani Group on Monday (February 13).
Advocates ML Sharma and Vishal Tiwari have filed this PIL. One of the petitions claim that Hindenburg short-sold the shares, causing "huge losses to investors".
The first hearing in this matter was held on February 10. Supreme Court had sought inputs from the Finance Ministry and SEBI on various issues, including on making the regulatory mechanism robust to protect the interests of investors in the market where capital flow is seamless.
SEBI was asked to give suggestions on what measures can be taken for security. The court had asked Solicitor General Tushar Mehta, appearing for SEBI, to come with complete information on the matter on Monday.
Adani Group has halved its revenue growth target
On the other hand, Adani Group has halved its revenue growth target.
Tiwari's petition claim that Hindenburg short-sold the shares, causing "huge losses to investors". He said that the Hindenburg Report tarnished the image of the country. It is affecting the economy.
Sharma's petition, meanwhile, claimed that the media hype over the report influenced the markets, and that Hindenburg founder Nathan Anderson also failed to provide evidence of his claims to Indian regulator SEBI.
In the petition, Manohar Lal Sharma has sought directions to SEBI and the Union Home Ministry to investigate and file an FIR against Hindenburg Research founder Nathan Anderson and his associates in India.
Vishal Tiwari demanded an inquiry into the Hindenburg report by forming a committee headed by a retired SC judge.
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