Hindenburg report on Adani: Supreme Court says it will not pass any injunction order against media

The Supreme Court on Friday made it clear that it will not pass any injunction order against media in relation to the recent Hindenburg Research report on the Adani Group of companies and the consequent market impact..Chief Justice of India (CJI) DY Chandrachud said the same when one of the petitioners in the case before the top court, advocate ML Sharma, mentioned his plea for a media gag. "We are not going to issue any injunction to the media ever. We will pronounce orders shortly," the CJI made it clear.Earlier, the Supreme Court had on February 17, reserved its verdict in the batch of four petitions concerning the report published by short-seller Hindenburg Research alleging fraud on the part of the conglomerate, as a result of which the Adani Group suffered losses crossing $100 billion..Sharma, who is one of the four petitioners, has sought directions to the SEBI and the Union Home Ministry to conduct an inquiry and register a First Information Report (FIR) against founder of Hindenburg Research, Nathan Anderson, and his associates in India.Sharma has also sought a gag order to halt media reports concerning listed companies unless such reports are first filed with and verified by the SEBI.He attempted to press this plea today which the Court declined to entertain.The Supreme Court had, on February 17, rejected the suggestion made by the Central government in a sealed cover on the way forward with respect to the Hindenburg Research report on the Adani Group of companies and the consequent market impact.A bench of Chief Justice of India (CJI) DY Chandrachud and Justices PS Narasimha and JB Pardiwala had then said that the Court will instead appoint a committee on its own since accepting the government's sealed cover suggestion could give an impression that it is a government appointed committee.It had then reserved its verdict which is yet to be pronounced.