NEW DELHI: The Supreme Court on Friday said it has no reason to “discredit” SEBI, which probed allegations against the Adani group, as there was no material before it to doubt what the market regulator has done and the court does not have to treat what was set out in the Hindenburg report as a “true state of affairs”.
While asking the Securities and Exchange Board of India (SEBI) what it intends to do in future to ensure investors don’t loose wealth due to volatility in stock market or short-selling, the apex court observed it would not be proper for it to set up a special investigation team (SIT) on its own without any material before it.
