Adani-Hindenburg report: SC sets up a probe panel, also asks Sebi to investigate

THE SUPREME COURT Thursday set up a six-member expert committee “to investigate if there was a regulatory failure in dealing with the alleged contravention of laws pertaining to the securities market in relation to the Adani Group or other companies” and submit a report in a sealed cover in two months. It asked the Securities and Exchange Board of India (SEBI) Chairperson to ensure requisite information is provided to the committee.

Separately, the Supreme Court asked the capital market regulator SEBI – already probing allegations against Adani Group companies – to specifically investigate: i) if there has been a violation of the minimum public shareholding norms in public limited companies, ii) if there has been a failure to disclose transactions with related parties, and iii) if there was any manipulation of stock prices.