The Supreme Court on Monday asked Sebi as to why it should not be directed to probe IL&FS fraud and protect investors. While extending its earlier order that stayed payment obligations till August 13, the next date of hearing, a Bench comprising justices Mohan M Shantanagoudar and Sanjiv Khanna said that the market regulator should look into the issue as it also has adjudicatory powers.<\/p>\n
\u201cWhy are you shirking from this? Lot of third parties have played fraud. That is the allegation. As a market regulator, you have to decide it as you have adjudicatory powers as well,\u201d the Bench said. It also told senior counsel Arvind Dattar, appearing for Sebi, that \u201cto protect society, we can direct you. You are saying regulations doesn\u2019t give you jurisdiction to do so\u2026 but regulations are made by you. Does your regulations then require a change? \u201cPeople\/investors have confidence in you. You are the boss,\u201d the judges said.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Supreme Court on Monday asked Sebi as to why it should not be directed to probe IL&FS fraud and protect investors. While extending its earlier order that stayed payment obligations till August 13, the next date of hearing, a Bench comprising justices Mohan M Shantanagoudar and Sanjiv Khanna said that the market regulator should look into the issue as it also has adjudicatory powers. \u201cWhy are you shirking from this? Lot of third parties have played fraud. That is the allegation. As a market regulator, you have to decide it as you have adjudicatory powers as well,\u201d the Bench […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,197,138],"tags":[],"class_list":["post-282454","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=282454"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282454\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=282454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=282454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=282454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}