Adani-Hindenburg Row: Supreme Court postpones hearing
As per media reports, the constitution bench led by the Chief Justice of India will persist in addressing petitions that contest the revocation of Article 370
The Supreme Court has rescheduled the hearing for the Adani-Hindenburg case involving the status report provided by the Securities and Exchange Board of India (Sebi), the capital markets regulatory body.
As per media reports, the constitution bench led by the Chief Justice of India will persist in addressing petitions that contest the revocation of Article 370.
The report noted that Sebi submitted a status report on August 25 concerning its inquiry into the accusations made by short-seller Hindenburg Research in its January report against the diversified conglomerate Adani, which is involved in port and energy operations.
Sebi has expressed that due to a significant number of these entities being located in offshore tax havens, determining the financial stakes of shareholders among the 12 Foreign Portfolio Investors (FPIs) presents a challenging aspect of the investigation, the report said.
As reported by sources, Sebi informed to the apex court that it is currently awaiting data from five offshore tax havens to identify the true beneficiaries behind foreign investors engaged with the conglomerate.
