Adani Stock Manipulation Allegations: Review Petition Filed in Supreme Court

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Summary:

• A review petition has been filed in the Supreme Court challenging its January verdict refusing to transfer the Adani stock manipulation probe to a special agency.
• The petition claims "mistakes and errors" in the judgment and highlights new material received by the petitioner.
• Key arguments include:
  • SEBI hasn't disclosed findings or details of action taken in its investigations.
  • SC ignored potential failures by SEBI and the issue of Adani Group promoters investing in their own stocks.
  • Reliance on newspaper articles and third-party reports shouldn't undermine SEBI's investigation.

Background:

• The Supreme Court earlier declined to transfer the probe to a special agency, citing SEBI's ongoing investigation.
• This followed allegations by Hindenburg Research of stock manipulation by the Adani Group, which denied the claims.
• Petitioners had questioned SEBI's effectiveness and sought a more independent investigation.

Impact:

• The review petition raises questions about the adequacy of SEBI's investigation and potential regulatory failures.
• It seeks transparency in SEBI's findings and a thorough probe into all allegations, including promoter investment.
• The court's decision on the review petition will be crucial in determining the future course of the probe.

Further Developments:

• The next hearing on the review petition is yet to be scheduled.
• The court will consider the arguments presented by both sides before making a decision.

India Stock Market Ticker Codes

Market Indices

Index Name	Ticker Code	Price (INR)	Change
BSE Sensex	BSESN	0.00	0.00

• The case continues to attract significant attention due to its potential implications for India's financial markets and corporate governance.

Disclaimer:

This summary is based on publicly available information and does not constitute legal advice. The accuracy of the allegations and claims presented in the petition cannot be independently verified. 

(With input from news agency language)
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