Professing complete faith in the Securities and Exchange Board of India (SEBI), the Supreme Court has neatly passed the Adani-Hindenburg case into the stock market regulator’s hands. This faith in the regulator is born out of the Justice AM Sapre committee’s report which found no evidence of regulatory failure by SEBI in handling the case. In August 2023, SEBI submitted a status report in which it stated that out of 24 investigations, 22 are complete and two are in the interim stage. It is noteworthy that the Court did not inquire into SEBI’s inability to complete the two pending investigations even after four months. The order to probe whether Hindenburg Research has violated any law in publishing the report on Adani and to take action against it, appears needless.

Source: The Hindu January 04, 2024 04:08 UTC