Source: The post is based on the article “Supreme Court forms expert panel to probe any regulatory failure on Adani issue” published in The Hindu on 3rd March 2023.
What is the News?
The Supreme Court has formed a six-member committee to suggest measures to protect investors against the kind of market volatility seen after the Hindenburg report against the Adani Group.
What is the expert committee constituted by the Supreme Court on the Adani issue?
Headed by: Justice Abhay Manohar Sapre(retd), a former judge of the Supreme Court
The mandate of the committee: To provide an overall assessment of the situation, including the relevant causal factors which led to the volatility in the securities market in the recent past;
– To suggest measures to strengthen Indian investor awareness;
– To investigate whether there has been a regulatory failure in dealing with the alleged contravention of laws protecting the securities market in relation to the Adani Group of companies and
– suggest measures to strengthen the statutory and regulatory framework and secure compliance with the existing framework for the protection of investors.
Duration: The committee was requested to submit its report to the Supreme Court in a sealed cover expeditiously within two months.