Adani-Hindenburg Row: Center Agrees To Set Up An Expert Committee On SC’s Proposal

Adani-Hindenburg row: Center agrees to set up an expert committee on Supreme Court’s proposal,  SC’s Proposal.

The Central Government told the apex court that it has no objection to the proposal to set up a panel of domain experts to strengthen the regulatory regime for the stock market.

The Centre, however, told a bench headed by Chief Justice DY Chandrachud that it wanted to give the names of experts for the committee in a sealed cover.

It may be known that after the Hindenburg report came, a hearing was held in the Supreme Court on Monday on the petitions related to the Adani stock market.

Adani-Hindenburg row: The government has no objection to the formation of the committee.

Solicitor General Tushar Mehta, appearing for the Central government and SEBI, told the bench that the market regulator and other statutory bodies are ready to deal with the situation that has arisen after the Hindenburg report.

“The government has no objection to the establishment of a commission on this matter,” Solicitor General Tushar Mehta.

“However, we can only suggest committee members. We can give names in a sealed cover.”

Two petitions will be heard on Friday.

Solicitor General Mehta, meanwhile, said that any inadvertent message on the setting up of the panel could have an adverse effect on the flow of funds.

The Supreme Court has listed for hearing on Friday two petitions alleging the exploitation of innocent investors and the artificial crashing of Adani Group’s stock price.

Opinion was sought from SEBI and Center.

Earlier on February 10, the apex court had said that the interest of Indian investors needed to be protected against market volatility in view of the fall in Adani’s shares.

The Center has been asked to consider setting up a panel of domain experts headed by a former judge on the matter. Opinion was also sought from SEBI and the Center to ensure a robust system in this regard.