The Supreme Court is likely to pronounce its verdict on Thursday on PILs filed on the recent fall in Adani Group’s shares following Hindenburg Research’s allegations.
Chief Justice D.Y. Chandrachud and Justice P.S. Narasimha and Justice J. B. Pardiwala’s bench is likely to give its verdict regarding setting up a committee of subject experts with a view to strengthen the existing regulatory measures for the stock market.
The apex court had on February 17, while reserving its verdict, refused to accept the Centre’s suggestion in a sealed cover on the proposed expert panel.
The bench said it wanted complete transparency for the protection of investors. It also ruled out the possibility of a serving judge monitoring the functioning of the proposed committee.
So far four PILs have been filed in the apex court on this issue. Advocate M.L. Sharma, Vishal Tiwari, Congress leader Jaya Thakur and Mukesh Kumar, who describes himself as a social worker, have filed these petitions.
Significantly, after several allegations were made against the Adani Group by ‘Hindenburg Research’, the prices of the group’s shares fell significantly. However, the group has rejected the allegations leveled against him.
