Adani Hindenburg Issue: Supreme Court asks SEBI to take measures to protect investors, next hearing will be on February 13
Adani Hindenburg Row: Amidst the Adani Group and Hindenburg dispute, the Supreme Court on Friday said that there should be a strong system in place to ensure that the interests of Indian investors are protected in the stock market. The court asked SEBI to suggest measures that can be taken to protect Indian investors from market volatility. The court’s remarks came at a time when shares of the Adani Group continued to decline over the past few days following a report by American short-seller firm Hindenburg.
The Supreme Court asked SEBI to inform the court about the existing framework for the protection of investors and also whether it is necessary to take more measures to strengthen the system. The court also asked whether the government would agree to form a committee to give suggestions on the existing system and who could be the members of this committee.
However, the court also made it clear that its observations do not reflect how SEBI is functioning as a regulatory body.
During the hearing, the bench also asked the Solicitor General how the regulatory system can be strengthened to protect Indian investors from such losses in the future, given the way the stock market has evolved over the past few decades. Is.
The Chief Justice of India said during the hearing, “A stock market is no longer a place where only large investors invest. Retail and small investors also invest their money in equities these days.”
Solicitor General Tushar Mehta, appearing for SEBI, told a bench headed by CJI Chandrachud that the issue originated outside India, but the regulator is closely monitoring the entire matter and these matters are among its priorities.
The Supreme Court was hearing two PILs filed in the Adani Hindenburg case on Friday. The court has asked SEBI and the central government to present their stand in this matter. The next hearing on the matter may now be on February 13.
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