Supreme Court Denies Review Plea in Adani Stock Manipulation Case

The Supreme Court has dismissed a review plea seeking to transfer the investigation into alleged stock price manipulation by the Adani Group to a special investigation team or the CBI. The court upheld its earlier verdict, citing no apparent errors and confirming SEBI's ongoing comprehensive investigation.

In a decisive move, the Supreme Court dismissed a plea seeking to review its January 3 verdict that refused to transfer the investigation into stock price manipulation allegations against the Adani Group to a special investigation team or the CBI.

Chief Justice of India D Y Chandrachud, along with Justices J B Pardiwala and Manoj Misra, reviewed and dismissed the plea filed by Anamika Jaiswal on May 5, stating there was no error in the original judgment. The court reaffirmed its confidence in the ongoing SEBI investigation.

This marks a significant victory for the Adani Group, which has been under scrutiny following accusations of fraudulent transactions and stock manipulation by Hindenburg Research. SEBI has reportedly completed its probe in 22 of 24 related matters.