SC Rejects Plea to Gag Media on Hindenburg-Adani Issue

New Delhi: The Supreme Court rejected a plea that sought to gag the media from reporting on the Adani-Hindenburg issue till the court pronounces its order. A bench headed by Chief Justice of India DY Chandrachud rejected this plea made by advocate Ml Sharma.

While rejecting the plea the CJI said, “We are not going to issue any injunction to the media.”

In the last hearing on February 17, the Supreme Court had refused to accept the Centre’s submissions for an expert committee in a sealed cover, saying it wishes to maintain “full transparency” in the case.

On February 10, the top court had said the interests of Indian investors need to be protected against market volatility in the backdrop of the Adani Group stock rout and asked the Centre to consider setting up a panel of domain experts headed by a former judge to look into strengthening the regulatory mechanism.

A report was published by Hindenburg Research accused Adani Group of stock manipulation, improper use of tax havens and money laundering. It has also raised concerns about the group’s mounting debts. Following this explosive report, Adani Group’s shares crashed. Gautam Adani’s net worth also fell nearly $50 billion this year, said a report by Time magazine.