Adani-Hindenberg row: SC refuses to pass any restraining order against media reporting

The Supreme Court on Friday dismissed a plea seeking media coverage of the Adani-Hindenburg issue until the court issues its order.

The Supreme Court on February 20 reserved its decision on a batch of PILs on the recent collapse of Adani Group shares triggered by Hindenburg Research fraud allegations. A bench headed by Chief Justice DY Chandrachud rejected the plea of ​​advocate ML Sharma who had raised the issue. "We will not issue any orders to the media," said Justices PS Narasimha and JB Pardiwala.

The Supreme Court on Monday refused to consider a petition filed by one of the petitioners and a report published by Forbes in a batch of PILs. The Supreme Court on February 17, in a sealed envelope, refused to accept the Centre's proposal for a proposed panel of experts to strengthen regulatory measures for the stock market. Since she wants to maintain full transparency for the sake of investors, she said she would rather not accept the proposal of the center in a sealed package. "We will not accept your proposal of a sealed envelope as we want to maintain full transparency," he told the bench.

On February 10, the apex court said that the interests of Indian investors needed to be protected from market volatility amid a fall in Adani Group shares and asked the Center to consider setting up a panel of domain experts headed by a former judge to look into strengthening the regulatory mechanism. So far, four PILs have been filed in the apex court on the matter by lawyers ML Sharma and Vishal Tiwari, Congress leader Jaya Thakur and activist Mukesh Kumar.

Adani Group shares took a beating on the bourses after Hindenburg Research leveled a series of allegations against the business conglomerate, including fraudulent transactions and share price manipulation. Adani Group has dismissed the allegations as lies and said it complies with all laws and disclosure requirements.