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Adani-Hindenburg verdict, SC says the facts of the case do not warrant the transfer of the probe to SIT or another agency.

Adani-Hindenburg Case Latest News: In a landmark decision, the Supreme Court of India has upheld the Securities and Exchange Board of India's (SEBI) investigation into the allegations made by Hindenburg Research against the Adani Group. A three-judge bench, comprising Chief Justice DY Chandrachud, Justice JB Pardiwala, and Justice Manoj Mishra, delivered the verdict, refusing to interfere with SEBI's ongoing probe.

Earlier this week, the company had appointed three companies, including noted architect Hafeez Contractor, as city planners to present a draft development plan for the Asia's largest slum cluster.

Adani Hindenburg Case Verdict: The Supreme Court has instructed SEBI to conclude its investigation into allegations against the Adani Group within three months. The court, led by Chief Justice DY Chandrachud, dismissed the notion of transferring the case to the CBI, emphasizing no grounds for skepticism in SEBI's actions. Adani faced volatility in 2023, accused by Hindenburg Research and OCCRP, but rebounded after the US government, and SEBI found allegations insignificant.

The Supreme Court stated that the facts of the Adani-Hindenburg case do not warrant the transfer of the probe from market regulator Sebi to SIT or any other agency.