On January 3, the Supreme Court (SC) disposed of four writ petitions filed in the wake of two reports (by Hindenburg Research and Organized Crime and Corruption Reporting Project) that raised multiple allegations against the Adani group of companies. Following the judgment, a statement was issued on behalf of the Adani group, claiming that its position has been vindicated. Whether this is an accurate claim is a matter for another day. However, while answering the questions raised in the writ petitions, the judgment has given rise to a few other issues that need to be discussed. PREMIUM The contentions in the petitions centred around the alleged dilatoriness and the absence of competence of the Securities and Exchange Board of India (SEBI) to deal with the issues that the research reports had raised. (REUTERS) The contentions in the petitions centred around the alleged dilatoriness and the absence of competence of the Securities and Exchange Board of India (SEBI) to deal with the issues that the research reports had raised. The first question that needs to be …