Supreme court has rejected a plea and issued a clarification that it will not gag the media for reporting on Adani-Hindenburg case till the Court issues its order.
SC issues injunction against media for reporting on Adani-Hindenburg Case
The Bench headed by Chief Justice DY Chandrachud Singh and comprised of Justices PS Narasimha and JB Pardiwala declined the plea filed by advocate ML Sharma and stated,
“We are not going to issue any injunction to the media”,
Advocate ML Sharma through his application had sought a media gag on the Hindenburg report and the news surrounding it. Further Advocate ML Sharma also sought an investigation against Hindenburg, whose report led to a frenzied sell-off of shares held by the Adani Group and caused a crash in its global shares.
SC had earlier refused to accept Centre’s suggestion in a sealed cover
Supreme Court had earlier refused to take on record the suggestion of one of the petitioners and a report published by Forbes in a batch of PIL’s.
The Apex Court on 17 February had also refused to accept sealed cover which Central Government suggested for proposed panel of experts for strengthening regulatory measures for the stock market.
Then the court had observed that it wants to maintain full transparency in the interests of investors, it further stated that it would not accept Center’s suggestion in a sealed cover.
“We will not accept the sealed cover suggestion by you because we want to maintain full transparency,”
On 10th February , Supreme Court had stated that the interests of Indian Investors had to be protected against market volatility in light of Adani Group stock crash. Supreme Court had asked the Centre to consider setting up a panel of domain experts headed by a former judge to look into strengthening the regulatory mechanism in the country.
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