Investigate whether the losses incurred by Indian investors due to short selling in Adani shares by Hindenburg and others violated any laws: Supreme Court

Case: Vishal Tiwari v. Union of India

Coram: Chief Justice of India DY Chandrachud, Justices JB Pardiwala and Manoj Misra

Case No.: W.P.(C) No. 162/2023

Court Observation: “The SEBI, and the investigative agencies of the Union government, shall probe into whether the loss suffered by Indian investors due to the conduct of the Hindenburg research and any other entities in taking short position involved any infraction of law, and if so, suitable action shall be taken.”

“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,”

“In an appropriate case, this court does have the power to transfer an investigation being carried out by an authorized agency to an SIT or to the CBI. Such a power is exercised in extraordinary circumstances when the competent authority portrays a glaring, willful and deliberate inaction in carrying out the investigation. The threshold for the transfer of investigation has not been demonstrated to exist.”

Previous Posts

Accusations of mental illness against the husband’s mother by the wife do not constitute ‘cruelty,’ as ruled by the Calcutta High Court, dismissing the plea for the dissolution of the marriage

The government holds the authority to determine the applicability of rules for promotion within its department; courts cannot exercise judicial review in this matter: Kerala High Court

The Kerala High Court elaborates on the inter se exchange and carry forward of reservations for persons with disabilities

Respecting the constitutional right to property of citizens is imperative; the Calcutta High Court orders the state to pay ₹2 lakh in damages for unlawfully taking possession

The Labour Commissioner is authorized to review ex-parte awards issued under the Workmen’s Compensation Act: J&K High Court

Keywords

Investigate whether the losses incurred by Indian investors