The Supreme Court has cast a critical eye on the allegations of short-seller Hindenburg Research against the Adani Group. The court, expressing its reluctance to accept these claims as irrefutable facts, has emphasized the need for a thorough investigation. The Securities and Exchange Board of India (Sebi) has been tasked with probing into the matter, while the court has rallied behind the regulator, asserting confidence in its ongoing investigation. This scrutiny comes after Hindenburg’s allegations of fraud, misgovernance, and stock price manipulation that sent shockwaves through the market. As the court reserves judgment on related petitions, questions of regulatory trustworthiness and protecting investor interests take center stage. At the same time, Adani Group shares have been volatile and on a downward spiral; should an investor – buy, hold or sell?