The Adani group of companies faced allegations from US-based Hindenburg Research, and the central government had given an answer in a sealed envelope during the hearing. However, the Supreme Court refused to accept it, as it emphasized the importance of transparency for the interests of Indian investors.
The Court also did not accept the suggestions provided by the expert committee and decided to form its own committee without any interference from the central government or the petitioners. The Court acknowledged the significant loss incurred by Adani Group’s shares after the disclosure of the Hindenburg report and considered the interests of Indian investors as a top priority during the hearing held on February 10.
The bench included Chief Justice DY Chandrachud and Justices PS Narasimha and JB Pardiwala.