Expressing concernes over protecting Indian investors, in the view large-scale losses witnessed in the share market following the Hindenburg report on Adani Enterprise, Supreme Court on Friday sought the views of the Union Government and the Securities and Exchange Board of India (SEBI) on suggestions to improve the regulatory mechanism.
The bench led by Chief Justice D Y Chandrachud also proposed the setting up of an expert committee to give suggestions on strengthening the regulatory framework. The bench was hearing two petitions that sought investigation into the the report of US-based shortselling firm, which caused shockwaves in the stockmarket by affecting the shareprices of Adani group companies.
The bench has posted the matter to Monday(February 13) asking the Solicitor General of India to get back after instructions from the Ministry.
Meanwhile, the apex court on Friday dismissed two PILs which sought for a probe about the US-based Hindeburg Research report which caused a decline of the stock prices of Adani Group companies after its publication alleging malpractices by the conglomerate.
A bench comprising Chandrachud, Justices P S Narasimha and J B Pardiwala dimissed the PIL.
