A plea has been filed in the Supreme Court seeking a review of its January 3rd verdict regarding the Adani Group stock manipulation allegations. The original verdict dismissed the plea for a Central Bureau of Investigation (CBI) or Special Investigation Team (SIT) probe and entrusted the investigation to the Securities and Exchange Board of India (SEBI).
Key Points:
- The new petition claims "mistakes and errors" in the January 3rd judgment.
- It cites "new material" received by the petitioner's counsel as grounds for review.
- The January 3rd verdict was a significant win for the Adani Group, upholding SEBI's investigation and declining external intervention.
Next Steps:
- The Supreme Court will decide whether to admit the plea for review.
- If admitted, the court will hear arguments from both sides before issuing a final decision.
Additional Information:
- The allegations against the Adani Group involve accusations of stock price manipulation through shell companies and related entities.
- The issue has garnered significant attention due to the size and influence of the Adani Group and its founder, Gautam Adani.
- The review petition highlights the ongoing debate about the effectiveness of SEBI investigations compared to agencies like the CBI in high-profile financial cases.
Potential Questions:
- What specific "mistakes and errors" does the petition allege in the January 3rd verdict?
- What is the nature of the "new material" received by the petitioner's counsel?
- What are the chances of the Supreme Court admitting the plea for review?
- How might this case impact the broader debate about financial investigations in India?
- (With input from news agency language)
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