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In a significant development, the Supreme Court of India has dismissed an application filed by a lawyer challenging the Registrar’s order from August 5, 2024. The order had previously rejected the lawyer’s request to have his application officially registered.
Supreme Court dismisses an application in US short seller firm Hindenburg-Adani group matter.
Supreme Court dismisses the application filed by a lawyer who challenged the apex court’s Registrar order of August 5, 2024, which declined to register his previous application in the… pic.twitter.com/c9zwE07g33
— ANI (@ANI) January 27, 2025
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The dismissed application sought to direct the Securities and Exchange Board of India (SEBI) to submit its final investigation report concerning the allegations made by US short-seller firm Hindenburg Research against the Adani Group. The Hindenburg report had raised concerns about potential financial malpractices within the conglomerate, which led to widespread scrutiny and regulatory investigation.
The Supreme Court’s decision to reject the application keeps the focus on the ongoing regulatory proceedings and further clarifies the legal course of action in this high-profile matter. The case continues to attract attention, particularly over the involvement of SEBI in investigating the claims made by Hindenburg Research, with the Adani Group maintaining that the allegations were unfounded.
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