SC To Hear PILs, Mull Over Setting Up Experts

English News 17 Feb 2023 14

Supreme Court is scheduled to hear during the day a batch of PILs on the recent Adani Group shares crash..

The Supreme Court is scheduled to hear during the day a batch of PILs on the recent Adani Group shares crash triggered by the Hindenburg Research's fraud allegations and is likely to mull over setting up of a panel of domain experts for strengthening existing regulatory measures for stock exchanges.

The crucial hearing on the PILs by a bench headed by Chief Justice D Y Chandrachud assumes significance in the wake of recent developments in which the Centre agreed to the apex court’s proposal to set up a committee, likely to be headed by a former Supreme Court judge, to look into the regulatory regimes.

Stressing that statutory bodies like market regulator Securities and Exchange Board of India (SEBI) are “fully equipped” and are on job, the central government had expressed apprehensions that any “unintentional” message to the investors that regulatory bodies in India needed a monitoring by a panel may have some adverse impact on the flow of money into the country.

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