Prashant Bhushan informed the Supreme Court that the Adani-Hindenburg case, scheduled for a hearing on August 28, is experiencing repeated postponements
In a recent trail of events in the Adani-Hindenburg row, Chief Justice of India DY Chandrachud has ordered all parties involved in the case to file their final submissions by Wednesday, November 8, in consideration of senior advocate Prashant Bhushan's previous statements, as per a report by Business Today.
Prashant Bhushan is among the many petitioners, who appeared as counsel in the case.
On Monday, Bhushan informed the Supreme Court that the Adani-Hindenburg case, scheduled for a hearing on August 28, is experiencing repeated postponements and is not being listed as planned.
The Solicitor General stated that the government needs to submit a brief two-page note on the issue. A bench led by CJI indicated that they would direct the registrar to review it and instructed the lawyer to bring it up again the following day for their consideration.
Previously, SEBI filed a status report on the Adani-Hindenburg case, revealing that 22 of its 24 investigations had concluded, with 2 still in progress stage.
The inquiry was conducted in accordance with the directives of the Supreme Court's March order. During that same month, the Supreme Court had established a committee to explore measures for safeguarding investors in response to a report by the US-based short-seller Hindenburg Research, which had negatively impacted the Adani Group's market worth.
Last month, Adani Total Gas Ltd. became the first of the Adani Group's seven listed companies to reach a valuation that had previously worried investors owing to the warning from the US short seller, Hindenburg Research, about an 85 per cent drop in Adani shares.