A writ petition has been filed by Congress leader Dr. Jaya Thakur alleging that Gautam Adani and his associates have “swindled lakhs of crores of public money.” The petitioner seeks a probe by investigating agencies like the CBI, ED, DRI, SEBI, RBI, SFIO, etc. under the supervision and monitoring of a sitting judge of the Supreme Court.
As per sources, the plea also seeks a probe against LIC and SBI for allegedly investing in Adani FPO at 3200 per share when the price was 1800 per share in the secondary market.
The Supreme Court is currently deliberating on two other PILs that seek an investigation into Hindenburg Research for causing stock market losses through short-selling.The apex court noted the losses that the investors incurred after the short-seller Hindenburg Research’s report and observed that there is a need to safeguard investors.
The bench, chaired by Chief Justice of India DY Chandrachud and Justices PS Narasimha and JB Pardiwala, asked the Securities and Exchange Board of India (SEBI) to suggest measures to ensure the protection of Indian investors after the short-selling report on Adani Group. It fixed hearings on two PILs on February 13.
As per current updates, the CJI sought the Ministry of Finance and SEBI’s response by February 13 on how to ensure that investors are protected in the future.
Further information regarding the court’s hearing is still unknown.
