Key Points
In its decision of 3 January on the matter of an Adani Group probe in the wake of Hindenburgs allegations, the Supreme Court (SC) upheld trust in the regulatory system under the Securities and Exchange Board of India (Sebi), emphasizing its commitment to financial transparency and market integrity, by endorsing Sebis regulations..
This issue has been a testnot just for Adani, but more of Sebis supervisory competence and regulatory autonomy..
Public respect for and confidence in Indian regulatory processes must be maintained and enhanced, so that all stakeholders can benefit from secure and transparent financial markets..
In their pursuit of public attention, lobbies, cynics and others may persist with negative views even in the face of clearances and assurances from all relevant pillars of democracy, but we must remember that in the context of a rapidly growing economy like Indias, not all regulatory or market practices from Western or developed nations are applicable or necessary..
Our homegrown regulatory frameworks, with their rule-making sovereignty and responsiveness to matters of public interest, are aligned with the unique dynamics of a fast-emerging economy, and they do ensure effective oversight while fostering sustainable growth..
