Adani Row: Centre Agrees To SC Proposal To Set Up Expert Panel On Regulatory Mechanism

NEW DELHI: The Centre stated that it had no objection to a proposal for setting up a panel of domain experts to look into strengthening the regulatory mechanisms for the stock market, provided that the SEBI's expertise is not undermined in the process. The Supreme Court was hearing pleas relating to the Adani row after the Hindenburg report came out.

As per reports in the PTI the central government, however, told a bench headed by Chief Justice DY Chandrachud that it wanted to give the names of the domain experts for the committee and the scope of its mandate in a sealed cover in the larger interest.

Solicitor General Tushar Mehta, appearing for the Centre and SEBI, said that the market regulator SEBI and other statutory bodies are equipped to deal with the present situation arising out of the Hindenburg report.“The government has no objection to forming a committee. But, the remit of the committee, we can suggest. We can provide names in a sealed cover,” the law officer said.We don't want to undermine the expertise of the regulator," Mehta told the Court.

The matter was posted for further hearing on February 17.

The petitioner Advocate Vishal Tiwari has urged the court to set up a committee, headed by a retired judge of the apex court to hear the allegations against the Indian conglomerate Adani Group. He had requested the court to list the matter for urgent hearing before a bench headed by Chief Justice DY Chandrachud and Justices PS Narasimha and JB Pardiwala which came up for hearing today. 

Also Read: Supreme Court to Examine Plea for Probe into Hindenburg Report on Adani Group Tomorrow