Key Points
The panel had been appointed by the top court on March 2 to examine regulatory mechanisms to protect investor interests, following the January report by the US-based shortseller that sent Adani stocks tumbling.PTI..
The Supreme Court on Friday said it could not accept shortseller Hindenburg Research's allegations of fraud, misgovernance and stock price manipulation by the Adani Group as the "ipso facto true state of affairs," and that's why it had asked the Securities and Exchange Board of India (Sebi) to inquire into the matter...
An apex court bench rallied behind the regulator, saying it found no material to doubt the Sebi investigation or the impartiality of the expert committee headed by former Supreme Court judge Abhay Manohar Sapre..
The bench comprising Chief Justice of India DY Chandrachud and Justices JB Pardiwala and Manoj Misra - while reserving judgment on petitions related to the matter - said the court could not proceed on the assumption that the Hindenburg report was true...
Informing the court that Sebi had accepted the suggestions of the Sapre panel, Mehta said, "There is no objection to the recommendations of the expert committee for strengthening the regulatory mechanism....
