SC will hear two petitions on Friday that ask for an investigation into the Hindenburg “conspiracy.”

Supreme Court on Adani: SC will hear two petitions requesting an investigation into a “conspiracy” against Adani businesses on Friday.
Two public interest litigations (PILs) requesting a court-monitored investigation into the “plot” by short seller Hindenburg Research against the Adani Group will be heard by the Supreme Court on Friday. According to the PILs, which were filed by attorneys ML Sharma and Vishal Tiwari, the American company Hindenburg shorted Adani stocks, resulting in a “monumental loss to investors.”

“The country's reputation has been damaged by the report. It has an impact on the economy “In his plea, Tiwari stated. According to Sharma's plea, the markets had been negatively impacted by the media blitz around the report, and Hindenburg creator Nathan Anderson had neglected to give evidence of his assertions to Indian authorities, the Securities and Exchange Board of India.

The Hindenburg report, which accuses the Gautam Adani-led conglomerate of engaging in “brazen accounting fraud” and “stock manipulation,” has sparked a significant political and financial controversy in India. The opposition has targeted the ruling Bharatiya Janata Party over alleged ties between Prime Minister Narendra Modi and his administration and Adani.

The Congress and other opposition parties, such as the Trinamool Congress, the Dravida Munnetra Kazhagam, the Shiv Sena (the group that included former Maharashtra chief minister Uddhav Thackeray), and the Communist Party of India, have forced numerous adjournments of Parliament's current Budget session in order to press for an investigation into the allegations against Adani, either by a joint parliamentary committee or by a team under the supervision of the Supreme Court.
Rahul Gandhi, a Congressman, spearheaded the push on this issue on Tuesday and delivered a furious speech in the Lok Sabha, some of which were afterwards controversially omitted.