Adani-Hindenburg case: Next hearing in Supreme Court on 13 October, report claims | Mint - Mint

Thank you for providing this information regarding the Adani-Hindenburg case and the upcoming Supreme Court hearing scheduled for October 13, 2023. This case has garnered significant attention due to the serious allegations of stock manipulation and accounting fraud made by Hindenburg Research against the Adani Group. Here are some key points to consider:

1. Background : The case originated in January 2023 when Hindenburg Research, a US short-seller, published a report making allegations of stock manipulation and accounting fraud against the Adani Group. These allegations had a significant impact on the share prices of Adani Group companies.

2. Sebi's Investigation : The Securities and Exchange Board of India (Sebi), the market regulator, launched an investigation into the matter. In August 2023, Sebi submitted a status report to the Supreme Court, indicating that it had completed its probe into most of the allegations but required additional time to investigate two specific allegations further.

3. Upcoming Supreme Court Hearing : On October 13, 2023, the Supreme Court is scheduled to review Sebi's latest status report. During the hearing, arguments from various parties involved in the case, including the Adani Group, Hindenburg Research, and Sebi, will be considered.

4. Potential Consequences : The outcome of the Supreme Court's hearing is of great significance. If the court finds that the Adani Group violated securities laws, it could impose substantial penalties on the company and its executives. This could also impact investor confidence in the Indian stock market.

5. Adani Group's Response : The Adani Group has consistently denied all the allegations made by Hindenburg Research and has stated that it is fully cooperating with Sebi's investigation.

This case has broader implications for corporate governance, market integrity, and investor trust in India's financial markets. The Supreme Court's decision will be closely watched by stakeholders in the financial and business communities, as it may set a precedent for how such cases are handled in the future.