Solicitor General Tushar Mehta, appearing for the central government and SEBI, said that the market regulator and other statutory agencies are ready to deal with the situation that arose after the Hindenburg Research report. He said that the government has no problem in forming the committee. But we can recommend the names of experts. We can indicate the name in a sealed cover. Mehta feared that any ‘unintended’ message on the composition of the panel could have an adverse impact on cash flow.
The Supreme Court has listed for hearing on Friday two public interest appeals related to loss to investors and artificial dilution of Adani Group’s shares. On February 10, the Supreme Court said on the decline in Adani Group’s shares, there is a need to protect the interests of Indian investors. The court asked the central government to form an expert committee headed by a former judge to consider strengthening the regulatory framework.
After the Hindberg report came out, the Indian stock market had a lot of impact. The share price of Adani Group took a big hit. Two petitions were then filed in the Supreme Court. One application has been filed by advocate Vishal Tiwari, while the other has been filed by ML Sharma. Tiwari’s demand is that an expert committee under the chairmanship of a former judge should be formed to investigate the truth. While Sharma says that a case should be registered against Hindenburg.
