Action packed second week in may before the summer vacations in SC awaites the most awaited hearing in the recent time. The Supreme Court will hear on May 12 the pleas on the Adani-Hindenburg row in which it had on March 2 asked market regulator SEBI to probe within two months allegations of stock price manipulation by the Adani group and lapses in regulatory disclosure.
The top court had also set up a panel to look at providing protection to Indian investors after a damning report by US short seller Hindenburg wiped out more than USD 140 billion of the Indian conglomerate's market value.
As per the cause list uploaded on the apex court website, a bench comprising Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala is scheduled to hear the pleas.
The hearing assumes significance in the wake of media reports that the six-member committee, headed by former apex court judge Justice A M Sapre, constituted for assessing the existing regulatory framework and making recommendations to strengthen the process, has submitted its report to the top court in a sealed cover.
Recently, market Regulator SEBI moved the apex court seeking a six-month extension to complete its probe into allegations of stock price manipulation by the Adani group and lapses in regulatory disclosure. This extention is opposed by petitioners.