During the hearing in the Supreme Court on the report of American short seller firm Hindenburg in the Gautam Adani case, Advocate ML Sharma started begging in front of the bench. Demanding that his writ should be made main petition, he told the court that the Registry plays games with him every time. His request was that this time his words should be accepted. From next time he will keep himself apart. The bench adjourned the hearing till Monday.
ML Sharma has filed a public interest litigation in the Supreme Court and appealed that the court should order SEBI and the Government of India to register an FIR against Nathan Anderson, the director of the short seller, after a thorough investigation of the Hindenburg report. The second petition has been filed by Advocate Vishal Tiwari. In this, they demand that a retired judge of the Supreme Court should investigate the Hindenburg report. When the court preferred Vishal Tiwari's writ during the hearing, ML Sharma started pleading. He said that he has worked hard in preparing the writ. But the registry did something else. Sharma said that he has filed the petition earlier, then considering it as a lead, why is it not being heard first.
A bench of CJI DY Chandrachud, Justice JB Pardiwala and Justice PS Narasimha said on ML Sharma's application that your concern is to protect the interests of small and medium investors. Then how is the entire stock market going to be affected. The CJI said that you should not think that we are not going to give due respect to your writ. But when ML Sharma kept pleading, Solicitor General Tushar Mehta took a jibe at him and said that my able friends believe in Fastest Finger First.
During the hearing, the Supreme Court asked the Center that "how will you protect the Indian investor". The CJI bench has sought response from the Center by Monday regarding the investigation into the Hindenburg report. The Supreme Court has also sought information from the Ministry of Finance, SEBI. Court said that stock market generally runs on sentiments, we are not commenting on the merits of this case.
The Supreme Court fixed the hearing on February 13 for both the PILs seeking probe into the Hindenburg Report on the Adani Group. During the hearing, the bench said that the troubling thing is how do we protect the interests of India's investors. The Supreme Court suggested the formation of a committee of experts and others, so that a robust process could be adopted to protect the interests of investors. The Solicitor General told the Supreme Court that SEBI is taking necessary steps. Mehta appeared on behalf of SEBI.
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