Adani-Hindenburg row: SC reserves order on issue related to appointing committee
Adani-Hindenburg row: Supreme Court on Friday reserved order on the issue related to appointing the committee to study the recent alarming fall of Adani group shares following short-seller Hindenburg Research's report.
During the hearing, Chief Justice of India (CJI) DY Chandrachud stated that they'll not accept the sealed cover suggestion by the Centre because they want to maintain full transparency.
"If they accept suggestions in sealed cover it is like they have not kept it away from other side as people will think it is a government-appointed committee," the Court said. The Chief Justice of India further said that they will appoint the committee and its members on their own.
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Earlier, the central government handed over the list of names to be part of the expert committee to the apex court in a sealed cover. The expert committee will reportedly look into the fall of the conglomerate’s shares and recommend improvement in statutory and regulatory regimes.
The names selected by the government include domain experts from various areas. The names were reportedly chosen by the government with the court's concern for investor protection in mind.
Appearing for the Centre, SG Mehta Tushar Mehta submitted a sealed cover note, stating, "Two intentions should be kept in mind, one is that truth comes out and a holistic view is presented and other one is there is an unintended impact on the markets."
- PTC NEWS
