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Adani-Hindenburg Row: SC Refuses To Accept Centre’s Suggestion On Committee

By LokMarg 17th February 2023

The Supreme Court on Friday said that it will not accept the sealed cover suggestion by the Centre on the appointment of the committee related to regulatory mechanisms to protect the investors in the backdrop of the Adani-Hindenburg case and said that it wants to maintain full transparency.

The court was hearing various petitions related to Hindenburg Research Report.
A bench led by Chief Justice of India DY Chandrachud reserved the order on the issue and the other issue of the appointment of the committee to oversee regulatory mechanisms related to the market.

One of the petitions filed by advocate Vishal Tiwari sought to Constitute a Committee under the Monitoring of the retired Supreme Court Judge to enquire and Investigate the Hindenburg Research Report.

During the hearing, CJI DY Chandrachud indicated by saying that they will not accept the sealed cover suggestion by the Centre because they want to maintain full transparency.

The court said, “If they accept suggestions in sealed cover it is like they have not kept it away from other side as people will think it is a government-appointed committee.”

CJI also indicated by saying that they will appoint the committee and its members on their own.

SG Mehta Tushar Mehta, appearing for Centre, submitted a sealed cover note and said, “Two intentions should be kept in mind, one is that truth comes out and a holistic view is presented and other one is there is an unintended impact on the markets.”

Petitioner and lawyer Advocate Vishal Tiwari demanded that the entire thing should be probed and a high-powered committee be constituted to look into it.

Appearing for another petitioner lawyer Prashant Bhushan said he wants to give suggestions on the names of some retired judges as members of the committee. But Supreme Court refuses to accept one of the petitioner lawyer Prashant Bhushan’s suggestion of names of some retired judges as members of the Committee.

Petitioner Jaya Thakur’s lawyer, advocate Varun Thakur demanded a fair probe.

Another petitioner, advocate ML Sharma, has sought a probe against the US-based firm, whose report has led to shares of Adani group plunging on the bourses.

One of the petitions was filed by Congress leader Jaya Thakur. (ANI)