Supreme Court on Thursday constituted an expert committee to probe the Adani-Hindenburg research case and has asked SEBI to submit investigation report within two months
Constituting an expert panel to review regulatory framework, the Supreme Court on Thursday directed Securities and Exchange Board of India (SEBI) to conclude the investigation in the Adani-Hindenburg research report case within two months.
CJI DY Chandrachud said the panel will be headed by former top court judge Justice Abhay Manohar Sapre and will also comprise of OP Bhat, Justice Devdhar, KV Kamath, and Nandan Nilekani.
While reserving its order, the top court on February 17 had refused to accept in a sealed cover the Centre’s suggestion on a proposed panel of experts.
Observing that it wanted full transparency for protection of investors, the top court had also ruled out the possibility of any sitting judge overseeing the functioning of the proposed panel.
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Stressing that statutory bodies like market regulator Securities and Exchange Board of India (SEBI) are fully equipped and are on job, the central government had expressed apprehension that any unintentional message to the investors that regulatory bodies in India needed monitoring by a panel may have some adverse impact on the flow of money into the country.
