shot-button
Maharashtra Elections 2024 Maharashtra Elections 2024
Home > News > India News > Article > Regulators very experienced says FM on Adani Group row

Regulators very experienced, says FM on Adani Group row

Updated on: 12 February,2023 08:51 AM IST  |  New Delhi
Agencies |

A bench headed by Chief Justice DY Chandrachud also told Solicitor General Tushar Mehta to convey to the officials of the Securities and Exchange Board of India (SEBI) that it was not “planning any witch hunt”.

Regulators very experienced, says FM on Adani Group row

Finance Minister during post-Budget address to RBI’s board. Pic/PTI

Finance Minister Nirmala Sitharaman on Saturday said the country’s regulators are very experienced and are seized of the matter relating to the Adani Group crisis.


The minister was replying to a question on the observations of the Supreme Court on public interest litigations (PILs) alleging exploitation of investors and “artificial crashing” of the Adani Group’s stocks.


“I will not disclose here what the government will be saying in the court... India’s regulators are very experienced and they are experts in their domain. The regulators are seized of this matter and they are on their toes as always, not just now,” she told reporters after her customary post-Budget address to the RBI’s board.


Concerned over protecting the interests of Indian investors, the Supreme Court on Friday favoured creating a robust mechanism to regulate the stock market and sought views of the Centre and market regulator SEBI on PILs alleging exploitation of innocent investors and “artificial crashing” of the Adani Group stocks.

A bench headed by Chief Justice DY Chandrachud also told Solicitor General Tushar Mehta to convey to the officials of the Securities and Exchange Board of India (SEBI) that it was not “planning any witch hunt”.

Also Read: Aborted FPO: SEBI probes Adani-investors links

The apex court sought inputs from the finance ministry and others on various issues, including on making the regulatory mechanism robust to protect the interests of investors in the market where capital flow is seamless in modern times.

Adani Group stocks have taken a beating on the bourses after US-based Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the conglomerate.</p

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK