Adani-Hindenburg Matter: Supreme Court Expresses Concern For Investors
Two public interest litigation petitions have reached the Supreme Court in the backdrop of the Adani-Hindenburg fracas. A bench of Chief Justice DY Chandrachud and Justices PS Narasimha and JB Pardiwala heard the PILs on Friday and expressed the need for a framework to protect Indian investors.
Highlighting the Rs 10 lakh crore loss that Adani Group's investors have suffered, the bench said that the Securities and Exchange Board of India should review whether the mechanism within the country is duly strengthened to protect the interests of investors.
Solicitor General Tushar Mehta, appearing for SEBI, responded by saying that the regulator has been continuously monitoring the situation. To which, the CJI said that the observation of the court shall not be a reflection on the duties discharged by the market regulator.
CJI DY Chandrachud, while pronouncing a short order, said that the court has indicated the concerns to the Solicitor General, regarding protection of investors and a robust regulatory mechanism.
The existing regulatory framework, the relevant causal factors, the need for putting into place robust mechanisms to protect the investors should be looked into.CJI DY Chandrachud
However, no observation of the court must be interpreted to go against SEBI or any other statutory authority, the bench clarified.
The two petitions seek a direction that charges against Adani Group must be vetted by SEBI before anything gets reported, a declaration of short selling being a fraud, and a direction to set up a special committee to oversee sanction policy for loans of over Rs 500 crore extended to big corporates.
The court will hear the matter next on Feb. 13.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
