As the Adani-Hindenburg controversy rages on, the Centre on Monday said that it had no obejctions to the setting up of a Supreme Court committee for strengthening regulations. The SC was hearing pleas relating to the Adani stocks rout after the Hindenburg report.
The SC has asked the Centre to come on Friday and apprise it about the remit of the committee.
The government also told the apex court that SEBI, other bodies are equipped to deal with situation. It however insisted that the remit of the panel would have to be very specific and ensure that the flow of money and investments was not affected by any “unintentional” message.
“The government has no objection to forming a committee. But, the remit of the committee, we can suggest. We can provide names in a sealed cover,” said Solicitor General Tushar Mehta who was appearing for the Centre and SEBI.
The SC has
The top court has now listed two PILs, alleging exploitation of innocent investors and “artificial crashing” of the Adani Group’s stock value, for hearing on Friday.