Adani-Hindenburg case: SEBI places the recommendations of the expert committee before the Supreme Court, seeks orders
Adani-Hindenburg case: The recommendations of the expert committee have been placed before the Supreme Court by SEBI. A committee has been formed by the Supreme Court on the Adani-Hindenburg case. It has been recommended by this committee to make the regulatory rules more strict so that there is no negative impact on the stock market when such cases come in the future.
On behalf of the financial market regulator SEBI, an affidavit has been filed in the Supreme Court on Monday. In this, the recommendations of the expert committee formed by the court in the Adani-Hindenburg case have been placed. Along with this, it has been demanded that immediate action should be taken on the violation of security laws so that it does not have a negative impact on the security market.
On behalf of SEBI, it has been said that the expert committee has recommended that a strong and acceptable settlement policy should be made, which decides whether any rules have been violated in any agreement or in the settlement.
Certain observations made by the Board on behalf of the market regulator are also noted. It has also been asked to take a number of regulatory approaches to deal with violations of security laws. It has also been asked to expand the definition of a special clause to make fraud easier to detect. The Supreme Court will hear the matter on Tuesday.
SEBI has requested the Supreme Court of the country to pass an appropriate order based on the report of the Expert Committee taking into account its observations.
The Supreme Court constituted a committee in the Hindenburg case, which had said in its report that after looking at the data, prima facie there does not appear to be any regulatory laxity or price manipulation. This report was filed by the expert committee on the order given by the Supreme Court on 2 March.
