Adani-Hindenburg issue: Supreme Court forms expert committee to probe recent share crash
New Delhi (PTI): The Supreme Court on Thursday ordered setting up of a six- member committee headed by former apex court judge A M Sapre to look into various regulatory aspects for stock markets, including the recent Adani Group shares crash triggered by the Hindenburg Research's fraud allegations.
A bench of Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala said the panel will make an overall assessment of situation, suggest measures to make investors aware and strengthening of existing regulatory measures for stock markets.
The bench also directed the Centre, financial statutory bodies and the SEBI chairperson to render all cooperation to the panel which will have to submit its report within two months.
Former judges OP Bhat and JP Devdatt are also part of the probe committee.
The court also named Nandan Nilekani, KV Kamath and Somasekharan Sundaresan as three other members of the committee.
While reserving its order, the top court on February 17 had refused to accept in a sealed cover the Centre's suggestion on a proposed panel of experts.
Till now four PILs have been filed in the top court on the issue by lawyers M L Sharma, Vishal Tiwari, Congress leader Jaya Thakur and Mukesh Kumar, who claims to be a social activist.
Adani Group stocks have taken a beating on the bourses after the Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business conglomerate. The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
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BJP running ‘double blunder’ govt, not ‘double engine’ one: Akhilesh Yadav
Lucknow (PTI): Samajwadi Party president Akhilesh Yadav took a jibe at the BJP-led governments at the Centre and in Uttar Pradesh on Tuesday, calling them a "double blunder" instead of a "double engine" government.
The former Uttar Pradesh chief minister shared a post on his official social media account on 'X' with a news item on the Vande Bharat train incident: "Rasta bhatak gayi Vande Bharat' - jana tha Goa, nikal gayi Kalyan" (Vande Bharat lost its way - was supposed to go to Goa but ended up in Kalyan).
Along with the image of the train's news, Yadav wrote, "The BJP is not a 'double engine' government, but a 'double blunder' government."
In the same post, he remarked, "BJP has even derailed the country's engine onto the wrong track."
The CSMT-Madgaon Vande Bharat express train deviated from its regular route on Monday morning due to a technical snag at Diva station in Thane district of Maharashtra, delaying its onward journey to Goa by 90 minutes, officials said.
Instead of proceeding towards Panvel station on the Diva-Panvel railway line used by Konkan-bound trains, the express train took the Kalyan route.
