Supreme Court Rejects Lawyer’s Plea Over Hindenburg-Adani Investigation

The Supreme Court, led by Justice JB Pardiwala, dismissed a lawyer's application challenging a Registrar's order on a previous plea about SEBI's investigation into Hindenburg's allegations against the Adani Group. The application failed to disclose a reasonable cause, leading to its rejection. The controversy has stirred public and investor doubt.

The Supreme Court of India, on Monday, rejected a plea filed by lawyer Vishal Tiwari, which challenged an earlier dismissal by the court's Registrar. Tiwari's original plea sought to expedite a conclusive report by the Securities and Exchange Board of India (SEBI) concerning allegations made by the Hindenburg Research against the Adani Group.

Presided over by Justice JB Pardiwala, the bench ruled that the petition failed to present a reasonable cause, subsequently upholding the Registrar's decision not to register the miscellaneous application. The Registrar justified the rejection due to the absence of a compelling reason for registration under the existing legal framework.

The legal dispute highlights ongoing tensions surrounding SEBI's delayed investigation results, which Tiwari argues could undermine public and investor confidence. The allegations center on purported misuse of offshore funds linked to the Adani family, prompting calls for swift resolution to avoid further market instability.

(With inputs from agencies.)