Supreme Court Reprimands Petitioner For Mixing Up Past SEBI Probes With Hindenburg Case

In the court hearing today, the petitioner demanded that the Securities and Exchange Board of India (SEBI) should tell the outcome of its 2016 and 2020 probe

The Supreme Court has reprimanded the petitioner in the Hindenburg case for mixing up an investigation by the capital markets regulator SEBI in 2016 and 2020 with the current case.

In the court hearing today, the petitioner demanded that the Securities and Exchange Board of India (SEBI) should tell the outcome of its 2016 and 2020 probe.

SEBI's lawyer Tushar Mehta raised a strong objection to the petitioner's demand since none of the 51 Indian firms probed by the SEBI earlier were linked to the Adani Group.

"You can't just pick up anything from 2016 and link it to the Hindenburg report. The 2016 case was a completely different one and has nothing to do with the Hindenburg case. In 2016, none of the 51 Indian companies that were investigated by SEBI were related to the Adani Group," Mr Mehta told the Supreme Court.