The plea was filed by one of the petitioners in the original case, and it seeks a review of the top court's judgment on January 3, 2024.
In its 46-page verdict, the Supreme Court had held that there was 'no ground to transfer the investigation from SEBI to an SIT.
New Delhi,UPDATED: Feb 13, 2024 19:27 IST
Just over a month after the Supreme Court delivered its judgment declining the transfer of the probe from the Securities and Exchange Board of India (SEBI) to a Special Investigation Team (SIT) into the Adani-Hindenburg issue over allegations of stock price manipulation, a review petition was filed in the top court on Tuesday.
The plea was filed by one of the petitioners in the original case, Anamika Jaiswal, and has sought a review of the top court's judgment on January 3, 2024.
Urging a review of the judgment, the petition stated that there are apparent errors wherein the Supreme Court rejected the petitioner's prayer to constitute a court-monitored SIT into the “massive fraud involving market manipulation through offshore entities owned by promoters of the Adani Group”.
According to the petition, there are several instances where SEBI's regulatory failures are readily apparent.
"Such failures have eventually contributed to alleged regulatory contraventions and statutory violations," the review plea stated.
The review application also annexed new documents, evidence, and email communications claiming to reveal that Adani Group companies had been in flagrant violation of Rule 19A of the SCRR, 1957.
The plea also stated that the top court failed to appreciate that the DRI, vide a letter of 2014 written to SEBI, pointed out that siphoned-out money using over-and under-invoicing from tax havens was being invested by Adani in Adani Group stocks in India. The letter contained two notes and one CD with evidence of the same.
"It is pertinent to note that SEBI, in its status report, has only updated the status of the 24 investigations as complete or incomplete and failed to disclose any findings or details on action taken. Unless the findings of the SEBI investigations are publicly reported, it cannot be concluded that there has been no regulatory failure," the plea stated, urging the top court to set a timeline for SEBI to complete the two pending investigations in a time-bound manner.
Published By:
ramesh sharma
Published On:
Feb 13, 2024
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