Business

Adani-Hindenburg: Supreme Court Seeks SEBI’s Views On Strengthening Regulatory Framework

Supreme Court on Friday sought SEBI’s response by 13 February 2023 on petitions related to the Hindenburg report that created huge trouble in the Indian share market following the collapse of Adani Group’s shares.

Advocates Vishal Tiwari and M.L. Sharma have filed two separate petitions in connection with the Hindenburg controversy.

The top court on Friday expressed concerns about protecting Indian investors and sought the views of the Union Government and the Securities and Exchange Board of India (SEBI) on suggestions to improve the regulatory mechanism.

In the wake of the Adani-Hindenburg issue, the Supreme Court observed that there is a need for a robust regulatory framework to protect the interest of the investors and if the Centre agrees, a committee may be set up to suggest regulatory improvements.

The Supreme Court said this while hearing a plea seeking a direction to set up a committee monitored by a retired apex court judge to investigate the Hindenburg Research report, which resulted in the crashing of Adani group company share prices and caused massive losses to small investors.

A bench headed by Chief Justice D.Y. Chandrachud and comprising Justices P.S. Narasimha and J.B. Pardiwala, in its order, noted that the court has indicated to Solicitor General Tushar Mehta (representing SEBI) its concern in connection ensuring that regulatory mechanism within the country is duly strengthened so that Indian investors could be protected against sudden volatility which has been witnessed in recent weeks.

It further added that if the Centre is ready to accept the suggestion, the necessary recommendation of the committee may be made and a brief note on legal and factual matrix may be filed by the Solicitor General by Monday.

Also read: Sidharth Malhotra & Kiara Advani’s Wedding Video Makes Fans Go Crazy

Spriha Rai

Recent Posts

Maharashtra Results 2024: Counting Of Votes Kicks Off With Tight Security

Counting begins at 8 AM with postal ballots, followed by EVM votes at 8:30 am…

2 seconds ago

‘In Kabul, A Cat Has More Freedom Than A Woman’: Revisiting Women’s Struggles Under The Taliban

The Taliban’s regime has since imposed over 100 laws restricting women's rights, stripping them of…

10 hours ago

PM Modi’s Gifts: A Glimpse Of India’s Cultural Heritage In Global Diplomacy

These gifts to world leaders reflect the diverse traditions, arts, and crafts of India, emphasizing…

13 hours ago

Dr Rajeshwar Singh Calls For Bold Goals To Make India A Global Power By 2047

Dr Singh stressed the importance of reaching a GDP of $15 trillion by 2047 to…

13 hours ago

Gautam Adani Faces Indictment In US: Legal Expert Vijay Aggarwal Dismisses Immediate Repercussions

Criminal lawyer Vijay Aggarwal weighed in on the charges against Adani. He believes the indictment…

14 hours ago

Adani Group Stocks Recover As Sensex nd Nifty Post Gains

After a major sell-off earlier in the week, Adani Group stocks, led by Ambuja Cements…

15 hours ago