Lagatar24 Desk
New Delhi: The Supreme Court has rejected a plea to review its January 3 verdict, which had denied the transfer of inquiries into allegations of stock price manipulation by the Adani Group to a Special Investigation Team (SIT) or the Central Bureau of Investigation (CBI). In a brief ruling, the top court stated it found “no error apparent on the face of the record.”
The decision was made by a three-member bench comprising Chief Justice DY Chandrachud, Justice SB Pardiwala, and Justice Manoj Misra. The bench concluded, “The Review Petition is, therefore, dismissed.”
The review plea, which was dismissed on May 8, was considered in-chambers and was filed by Anamika Jaiswal, one of the public interest litigation (PIL) petitioners. The plea claimed there were “mistakes and errors” in the judgment and cited new material received by the counsel as sufficient grounds for a review.
Additionally, the plea argued that the Securities and Exchange Board of India (SEBI) had only updated the court about the status of the 24 investigations it undertook following the allegations but did not disclose any findings or details of actions taken.
In January, the Supreme Court ruled in favor of the Adani Group, stating that a report by the Organized Crime and Corruption Reporting Project (OCCRP), funded by billionaire George Soros, could not form the basis for doubting SEBI’s inquiry into the Hindenburg case. The court found no grounds to transfer the probe to an SIT.
Chief Justice Chandrachud and Justices Pardiwala and Misra had earlier noted that the allegations and the OCCRP report could not be treated as conclusive evidence.
The Adani Group has labeled the OCCRP report as a “malicious combination of selective misinformation and concealed facts relating to baseless and discredited allegations to drive an ulterior motive.” The conglomerate also described it as a “selective and manipulative presentation of matters already in the public domain.”
Chairman Gautam Adani welcomed the Supreme Court’s verdict, viewing it as a victory for the truth. In a post on X (formerly Twitter), Mr. Adani expressed gratitude to those who supported the group.
