What Chief Justice Said In Adani-Hindenburg Case

Today, the Supreme Court declared that there is no justification to shift the investigation of the Hindenburg case from the capital markets regulator SEBI to a Special Investigation Team (SIT). In a favorable outcome for the Adani group, the court stated that the report by George Soros-led OCCRP cannot be considered as a valid reason to question the integrity of the regulator’s ongoing investigation.

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Here are the top quotes by the Chief Justice of India on the Adani-Hindenburg case:

– “The government of India and the Sebi to look into if there is any infraction of law by the Hindenburg report on short selling and if so, take action in accordance with law.”

– “SEBI has completed investigation in 20 out of 22 matters. Taking into account the assurance of the Solicitor General, we direct the SEBI to complete the investigation in the other two cases within three months.”

– “The power to transfer investigation must be exercised in exceptional circumstances. Such powers cannot be exercised in the absence of cogent justifications.”

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– “Reliance on newspaper reports and third-party organisations to question the statutory regulator does not inspire confidence. They can be treated as inputs but not conclusive evidence to doubt SEBI probe.”

– “Before concluding, public interest jurisprudence was developed to provide access to ordinary citizens. Petitions which lack adequate research and rely on unsubstantiated reports cannot be accepted.”