The application has been moved in the Adani-Hindenburg case. On January 3, this year, the Supreme Court had asked the SEBI and the investigating agencies of the Central government to probe whether there was any violation of law in the conduct of Hindenburg Research and other short sellers, which had led to volatility in the Indian securities market and losses to Indian investors.
The Court had also directed SEBI and the government to consider the recommendations of the Expert Committee to strengthen the regulatory framework to protect the interests of the investors.
“SEBI and the investigative agencies of the Union Government shall also enquire into whether there was any infraction of law by the entities, which engaged in short-selling on this occasion. The loss which has been sustained by Indian investors as a result of the volatility caused by the short positions taken by Hindenburg Research and any other entities acting in concert with Hindenburg Research should be probed,” the judgment said.
Source: Barandbench
