Adani row: SC to hear plea seeking probe into Hindenburg report tomorrow

Advocate Vishal Tiwari, who has filed the petition, mentioned the matter for urgent listing before a bench headed by Chief Justice D Y Chandrachud on Thursday. The bench also comprises Justices PS Narasimha and JB Pardiwala. 

A separate plea filed on the Adani-Hindenburg row is scheduled to be listed for hearing on February 10 and a similar petition is coming tomorrow, Tiwari told the bench. 

He said that this pertains to the Hindenburg Research report which has tarnished the image of the country and caused the loss. He then urged the bench that his plea be also heard on Friday along with the separate plea. 

He has also sought directions to set up a special committee to oversee the sanction policy for loans of over ₹500 crore given to big corporates. 

Another PIL was also filed in the apex court last week by advocate ML Sharma who sought prosecution of short seller Nathan Anderson of US-based form Hindenburg Research and his associates in India. 

The American short-seller Hindenburg report has accused the Adani Group of Indulging in stock manipulation and over valuation in the latter’s path to making Adani the richest man in Asia.

Meanwhile, MSCI on February 9 announced that it is reviewing the free-float status of Adani group securities on the back of some concerns from various market participants. MSCI calculates free float-adjusted market-capitalization for each security.

“MSCI has received feedback from a range of market participants concerning the eligibility and free float determination of specific securities associated with the Adani Group for the MSCI Global Investable Market Indexes (GIMI),” it said in a statement.

(With PTI inputs)