On Thursday, the Supreme Court constituted an Expert's Committee to look into the Adnai Group and Hindenburg Research saga. The Top Court has also directed SEBI to probe.
Key Points of the Hearing are as below:
- Expert committee to be headed by Justice Sapre, a retired judge of the Supreme Court
- Other members of the committee include OP Bhatt, KV Kamath, Nandan Nilekani, Somsekhar Sundaresan
- SEBI, Investigation agencies to support the expert panel
Details Of The Supreme Court Order
- Issue deals with loss of investor wealth due to crash in Adani group share price
- Declines prompted by the Hindenburg report
Hindeburg report alleges related party transactions in violation of SEBI norms, Inflated share prices
- Sumarising the four pleas filed on the Adani-Hindenburg Saga
SEBI Inquiring Into Hindenburg Report Allegations
Market regulator states that it is already inquiring into the allegations made in the Hindenburg report to identify potential violations
- SEBI has laid out a regulatory framework
- SEBI has submitted that it has a disclosure-based approach
SEBI has submitted that it has an existing regime for investor protection
- Submitted that it promotes a system of free and fair price discovery, volatility
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