<p>A plea has been filed in the Supreme Court seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to enquire and investigate into the Hindenburg Research report which made a slew of allegations against the business conglomerate led by industrialist Gautam Adani.</p>.<p>The fresh public interest litigation (PIL), filed by advocate Vishal Tiwari, has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates.</p>.<p>Last week, another PIL was filed in the apex court seeking prosecution of short seller Nathan Anderson of US-based firm Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the "artificial crashing" of Adani Group's stock value in the market.</p>.<p><strong>Also read | <a href="https://www.deccanherald.com/national/adani-row-cong-holds-nationwide-demonstrations-parliament-proceedings-remain-paralysed-amid-oppn-protest-1188529.html" target="_blank">Adani row: Cong holds nationwide demonstrations; Parliament proceedings remain paralysed amid oppn protest</a></strong></p>.<p>The Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations including fraudulent transactions and share-price manipulation against the business conglomerate led by Gautam Adani.</p>.<p>The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.</p>.<p>In his plea, Tiwari has said the petition depicts the "drastic condition and fate of people" when there arises a situation of share fall in the securities market due to various reasons.</p>.<p>"Lots of people who had the whole lifetime saving in such stocks get a maximum setback due to fall in such shares with a huge amount of money getting into drain," the PIL said.</p>.<p>It said with the recent news of the publication of the Hindenburg report, it has led to the loss of huge amount for various investors who have invested their life-saving in such shares.</p>.<p>"In the aftermath of an unprecedented attack on billionaire Gautam Adani's vast empire by Hindenburg, the market value of all 10 Adani stocks have halved with investors sitting with a colossal loss...," the plea said.</p>.<p>It claimed that no concrete steps have been taken by authorities on the issue despite a "massive attack being perpetrated" on the country's economy.</p>.<p>"It is ultimately the public money for which the respondents (Centre and others) are answerable and there needs to be strict concern for mitigating of such loans with a clear process and sanction policy for such high stake loan amount," it said.</p>.<p>The plea has made the Centre and others, including the Reserve Bank of India and the Securities and Exchange Board of India, as respondents.</p>
<p>A plea has been filed in the Supreme Court seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to enquire and investigate into the Hindenburg Research report which made a slew of allegations against the business conglomerate led by industrialist Gautam Adani.</p>.<p>The fresh public interest litigation (PIL), filed by advocate Vishal Tiwari, has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates.</p>.<p>Last week, another PIL was filed in the apex court seeking prosecution of short seller Nathan Anderson of US-based firm Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the "artificial crashing" of Adani Group's stock value in the market.</p>.<p><strong>Also read | <a href="https://www.deccanherald.com/national/adani-row-cong-holds-nationwide-demonstrations-parliament-proceedings-remain-paralysed-amid-oppn-protest-1188529.html" target="_blank">Adani row: Cong holds nationwide demonstrations; Parliament proceedings remain paralysed amid oppn protest</a></strong></p>.<p>The Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations including fraudulent transactions and share-price manipulation against the business conglomerate led by Gautam Adani.</p>.<p>The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.</p>.<p>In his plea, Tiwari has said the petition depicts the "drastic condition and fate of people" when there arises a situation of share fall in the securities market due to various reasons.</p>.<p>"Lots of people who had the whole lifetime saving in such stocks get a maximum setback due to fall in such shares with a huge amount of money getting into drain," the PIL said.</p>.<p>It said with the recent news of the publication of the Hindenburg report, it has led to the loss of huge amount for various investors who have invested their life-saving in such shares.</p>.<p>"In the aftermath of an unprecedented attack on billionaire Gautam Adani's vast empire by Hindenburg, the market value of all 10 Adani stocks have halved with investors sitting with a colossal loss...," the plea said.</p>.<p>It claimed that no concrete steps have been taken by authorities on the issue despite a "massive attack being perpetrated" on the country's economy.</p>.<p>"It is ultimately the public money for which the respondents (Centre and others) are answerable and there needs to be strict concern for mitigating of such loans with a clear process and sanction policy for such high stake loan amount," it said.</p>.<p>The plea has made the Centre and others, including the Reserve Bank of India and the Securities and Exchange Board of India, as respondents.</p>