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'Not Going To Issue Any Injunction Ever Against Media' : Supreme Court Rejects Plea To Gag Media From Reporting Adani-Hindenburg Issue

24 Feb 2023 5:21 AM GMT
Not Going To Issue Any Injunction Ever Against Media : Supreme Court Rejects Plea To Gag Media From Reporting Adani-Hindenburg Issue

The Supreme Court on Friday rejected a plea made by Adv ML Sharma to gag the media from reporting on Adani-Hindenburg issue till the court pronounces the order.

"We are not going to issue any injunction ever against the media", CJI DY Chandrachud told Sharma when the latter made the plea to stop the media reports on the issue.

When Sharma, who has filed a PIL seeking investigation against Hindenburg Research, repeated his request by saying that media was creating a sensation, CJI reiterated "make a reasonable argument, not for injunction to the media".

The CJI also said that the bench will pass the orders shortly. It may be recalled that last week, the bench led by CJI had reserved orders on constituting an expert committee to review the regulatory mechanism to protect the Indian investors in the light of the Adani-Hindenburg issue.

The bench had also refused to accept the names suggested by the Central Government in a sealed cover for inclusion in the proposed committee. The bench was hearing a bunch of PILs - two of them seeking investigation against Hindenburg and the other two seeking probe against Adani group.

It was on January 24 that US-based Hindenburg published its report accusing Adani group of widespread manipulations and malpractices to inflate its stock prices. Adani Group refuted the allegations by publishing a 413-page reply and even went to the extent of terming it as attack against India. Hindenburg shot back with a rejoinder, saying that 'fraud cannot be obfuscated by nationalism' and stood by its report.

Since the publishing of the Hindeburg report, Adani shares have been nosediving in the sharemarket. The embattled group was also forced to recall its FPO, with the tumbling down of stock prices.

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