SEBI Equipped To Handle Adani-Hindenburg Saga: Centre To Supreme Court

Regulators are equipped to handle situations like the Adani-Hindenburg saga, Centre told Supreme Court today. Though it did not want to undermine the expertise of agencies and regulatory bodies like SEBI, the government was open to the top court’s suggestion to the constitution of a committee which could propose changes in the regulatory framework if any, the Centre added.

The remit of the committee would be very very relevant, Solicitor General Tushar Mehta said, but it would be advisable if the remit of the committee remained confidential, he added.

Mehta, representing the Security Exchange Board of India (SEBI)—India’s apex market regulator, told the bench this would prevent the spread of any unintentional message which in turn could have an adverse effect internationally.

“We don’t want to undermine the expertise of the agencies or the regulator,” Mehta added. He also requested the court if the Centre could submit the remit of the committee and its proposed members in a sealed cover.

Also Read:How Can We Protect Indian Investors: SC On Adani-Hindenburg Saga

The Centre’s submission came days after the top court asked how the Indian investors could be protected. While hearing a batch of pleas that sought a probe in the Hindenburg report, the top court on Friday had proposed the constitution of a multi-disciplinary committee that would examine ways to modify existing regulatory framework and put in place a mechanism to prevent the repeat of a situation like this in future.