Brief by Shorts91 Newsdesk / 06:28am on 03 Jan 2024,Wednesday Business
The Supreme Court has said no to moving the Adani-Hindenburg case from SEBI to a Special Investigation Team (SIT). The court stated that doubts raised by reports can't undermine SEBI's findings. Justices emphasized SEBI's limited regulatory role, rejecting claims of flaws in Foreign Portfolio Investors (FPI) and Listing Obligations and Disclosure Requirements (LODR) regulations. SEBI must wrap up the investigation in the remaining two cases in three months, as assured by the Solicitor General. The court also warned against filing Public Interest Litigations (PILs) without proper research, while suggesting the government and SEBI consider the Hindenburg report for any legal breaches.
