The Supreme Court of India rejected a public interest litigation (PIL) on Friday that sought an investigation into allegations made by Viceroy Research LLC, a US-based short-seller, against Vedanta Limited, Hindustan Zinc Limited, and associated companies.
A bench consisting of Justices P.S. Narasimha and A.S. Chandurkar expressed its unwillingness to entertain the matter, leading to the PIL petitioner subsequently withdrawing the application. Senior advocate Gopal Sankaranarayanan, representing the petitioner, argued that the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) should be mandated to address complaints already filed with them. However, the Supreme Court declined this request.
