The Supreme Court docket on Thursday ordered the establishing of a committee headed by former Supreme Court docket choose AM Sapre, together with KV Kamath and Nandan Nilekani to probe the latest Adani Group shares crash triggered by the Hindenburg Analysis’s fraud allegations.
The SC has requested market regulator SEBI to conclude its investigation inside two months. It has additionally requested the SEBI to research whether or not there was a violation of Part 19 of SEBI guidelines, and whether or not there was any manipulation of inventory costs.
The report must be submitted inside two months.
The SC additional mentioned that the remit of the committee might be to counsel measures to strengthen frameworks, to research Adani row and to counsel measures to strengthen the statutory framework.
The SC has directed SEBI to make sure that all info is supplied to the committee and that the report ought to be submitted in a sealed cowl earlier than this court docket in two months.
