SC directs SEBI to conclude Adani-Hindenberg probe in 2 months, forms expert committee to review the regulatory mechanism
New Delhi : The Supreme Court of India has ordered the equity market regulator Securities and Exchange Board of India (SEBI) to conclude its investigation into the Adani-Hindenburg issue within two months and submit a status report to the Court.
The bench, comprising of CJI DY Chandrachud, Justice PS Narasimha, and Justice JB Pardiwala, noted that SEBI is currently conducting an investigation into the accusations made in the Hindenburg report, as well as any market activity that occurred before and after the report’s release, to identify any potential violations.
The Apex Court also constituted an expert committee to review the regulatory mechanism in the light of Adani-Hindenburg issue. The expert committee will be under the head of former Supreme Court judge Justice AM Sapre with OP Bhat(former Chairman of SBI), retired Justice JP Devadhar , KV Kamath, Nandan Nilakeni, Somasekharan Sundaresan as the members of the committee.