The Supreme Court on Wednesday agreed to hear on Friday a fresh plea of a Congress leader seeking investigation by the CBI and other regulatory agencies against the Adani group of companies in the light of the allegations made by the US-based Hindenburg Research.
The PIL, among other things, questioned the role of Life Insurance Corporation of India (LIC) and State Bank of India (SBI) in investing huge public money in the entity “without due diligence”.
A bench of Chief Justice D.Y. Chandrachud, Justice Krishna Murari and Justice P.S. Narasimha assured counsel appearing for the petitioner and Congress leader Jaya Thakur that the matter would be taken up on Friday along with two other PILs relating to the Hindenburg report.
Initially, the bench said it would list the matter on February 24, but the counsel requested the matter be listed earlier as the court will hear arguments on the other two PILs on Friday.
This is the third PIL in the apex court on the issue. While the present petition seeking action against the Adani group and others has been filed by Madhya Pradesh Congress leader, Jaya Thakur, the other two PILs have been filed by advocates — Manohar Lal Sharma and Vishal Tiwari.
One PIL sought a direction to form a panel to inquire into the Hindenburg report, while the other sought prosecution of short-seller Nathan Anderson of Hindenburg Research. The PIL by Thakur has sought a direction for a comprehensive probe by various agencies such as the CBI,SFIO, RBI, NCB (Narcotics Control Bureau), DRI, CBDT and ED into the alleged fraud committed by the Adanigroup. The petitioner alleged that LIC, State Bank and several public sector units invested a huge amount at Rs 3,200 per share, whereas in the secondary market the share was prevailing at Rs 1,600 to 1,800 per share.