New Delhi: The Supreme Court of India set up an expert committee on issues arising out of the Hindenburg report. SC was today (March 2) hearing petitions pertaining to Hindenburg report including on constitution of the committee relating to regulatory mechanisms to protect the investors.
Retired judge Justice AM Sapre will head the committee. Also, Supreme Court directed the Securities and Exchange Board of India (SEBI) to investigate whether there has been a violation of Section 19 of SEBI rules, whether there was any manipulation of stock prices.
The apex court directed SEBI to conduct an investigation within two months and submit a status report.
Notably, on February 17, the CJI-led bench reserved its order on the composition and remit of a committee, which is expected to look into the recent episode that witnessed a massive slide in Adani Group’s stock prices after US firm Hindenburg Research came out with a report alleging fraud and stock manipulation.
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