Key Points
New Delhi: The Supreme Court Wednesday ruled that there were no grounds to order a Special Investigation Team (SIT) or CBI probe into the Adani-Hindenburg matter, refusing to interfere with the jurisdiction of the Securities and Exchange Board of India (SEBI) in probing the case.. The bench comprising Chief Justice of India D.Y. Chandrachud, Justices J.B. Pardiwala and Manoj Misra observed that there was no room to doubt the fairness of SEBIs probe, which it said was complete in 22 of 24 cases of alleged violation of SEBI rules and regulations by Adani Group companies..
The court left it to the government and SEBI to look into whether there was any infraction of law in the matter, and if so, to take action in accordance with the law...
Several petitions were then filed in the Supreme Court, demanding a court-monitored probe into the allegations made in the report...
It had also directed SEBI to complete its probe into the allegations made in the Hindenburg Researchreport within two months..
CJI Chandrachud had then asserted that SEBI cannot be expected to follow what newspapers have reported on Adanis alleged conduct..
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