NEW DELHI: The Supreme Court on Thursday set up a six-member panel of experts headed by a retired top court judge to examine various regulatory aspects for stock markets in the wake of Adani-Hindenburg saga.
The panel constituted by the top court will be headed by retired SC judge Abhay Manohar Sapre and will include O P Bhat, Justice JP Devdhar, K V Kamat, Nandan Nilekani and Somasekhar Sundaresan.
A bench of Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala said the panel will make an overall assessment of situation, suggest measures to make investors aware and strengthen the existing regulatory measures for stock markets.
SEBI has been asked to cooperate with a experts panel and complete the probe within two months and file a report.
The experts panel will then submit the report to the apex court in a sealed cover.
The SC bench said the constitution of expert panel does not divest Sebi of its duty to investigate the Hindeburg report.
While reserving its order, the top court on February 17 had refused to accept in a sealed cover the Centre’s suggestion on a proposed panel of experts.
The panel constituted by the top court will be headed by retired SC judge Abhay Manohar Sapre and will include O P Bhat, Justice JP Devdhar, K V Kamat, Nandan Nilekani and Somasekhar Sundaresan.
A bench of Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala said the panel will make an overall assessment of situation, suggest measures to make investors aware and strengthen the existing regulatory measures for stock markets.
SEBI has been asked to cooperate with a experts panel and complete the probe within two months and file a report.
The experts panel will then submit the report to the apex court in a sealed cover.
The SC bench said the constitution of expert panel does not divest Sebi of its duty to investigate the Hindeburg report.
While reserving its order, the top court on February 17 had refused to accept in a sealed cover the Centre’s suggestion on a proposed panel of experts.
The Adani Group welcomes the order of the Hon’ble Supreme Court. It will bring finality in a time bound manner. Truth will prevail.
— Gautam Adani (@gautam_adani) 1677737081000
Gautam Adani welcomed the Supreme Court order, saying that “truth will prevail”.
“The Adani Group welcomes the order of the Hon’ble Supreme Court. It will bring finality in a time bound manner. Truth will prevail,” he tweeted.
Till now four PILs have been filed in the top court on the issue by lawyers M L Sharma, Vishal Tiwari, Congress leader Jaya Thakur and Mukesh Kumar, who claims to be a social activist.
(With inputs from agencies)
