Adani row: SC expresses concern, seeks SEBI’s views on strengthening regulatory framework

The Supreme Court on Friday has expressed concerns about protecting Indian investors in the wake of Adani-Hindenburg issue.

The top court sought the views of the Union government and the Securities and Exchange Board of India (SEBI) on improving the regulatory mechanism.

The bench headed by Chief Justice of India DY Chandrachud also proposed the constitution of a committee to give suggestions on strengthening the regulatory framework.

The apex court was hearing two petitions which sought a probe into the report of a US-based shortselling firm, Hindenburg Research, which accused the Adani Group of stock manipulation and accounting fraud.

Following Hindenburg report, the group’s founder and chairman Gautam Adani has also slipped from being the world’s third richest man to being ranked 21st now.

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