Adani-Hindenburg case: Do not trust newspaper reports: what CJI said during the decision in SC

The Supreme Court today gave a big verdict on the Adani-Hindenburg case. The Supreme Court has clearly refused to interfere in the investigation report of the Securities and Exchange Board of India (SEBI). During this, the Supreme Court said that there is no basis to transfer the investigation of SEBI to SIT.

This decision of the Supreme Court is a victory for Adani Group. While giving the verdict in the interest of Adani group, the court said that the report of George Soros-led OCCRP cannot be a basis to doubt the investigation of the market regulator.

"The Government of India and SEBI will look into whether there is any violation of law in the Hindenburg Report on short selling and if so, take action as per law."

"SEBI has completed the investigation in 20 out of 22 cases. Keeping in mind the assurance of the Solicitor General, we direct SEBI to complete the investigation in the other two cases within three months."

"The power to transfer the investigation should be used in exceptional circumstances. Such powers cannot be used in the absence of solid justification."

"Relying on newspaper reports and third party organizations to question the statutory regulator does not inspire confidence. These may be considered as inputs to cast doubt on the SEBI investigation, but not conclusive evidence."

"Public interest jurisprudence was developed to provide access to ordinary citizens. Petitions that lack adequate research and rely on unverified reports cannot be entertained."