Zoom News : Feb 17, 2023, 05:19 PM
Gautam Adani Networth: The Supreme Court on Friday refused to accept in a sealed cover the Centre's suggestion on a committee of experts to strengthen regulatory rules for the stock market. A bench of Chief Justice DY Chandrachud, Justice PS Narasimha and Justice JB Pardiwala said that it wants to maintain complete transparency in the interests of investors and will not accept the Central Government's suggestion in a sealed cover. The bench said, 'We will not accept your suggestions in a sealed cover, as we want to maintain transparency.' The Supreme Court has said that we will suggest the name of the committee ourselves.Apart from this, the Supreme Court also said that the sitting judge of the Supreme Court will not be included in the committee.Advocate ML Sharma said during the hearing that I am not a part of any company but I am worried about short selling. At the same time, Prashant Bhushan put the technical issues related to this case in front of someone. He said that more than 75 percent of the shares in Adani group companies were held by the promoters of this group. In the petition, Prashant Bhushan has appealed to get the matter investigated by the SIT.The Supreme Court had said on February 10 that the interest of Indian investors needed to be protected in view of the volatility of the market in view of the steep fall in Adani Group's share prices. Along with this, the court had asked the Center to consider forming a committee of industry experts headed by a former judge to strengthen the regulatory system. Lawyers ML Sharma and Vishal Tiwari, Congress leader Jaya Thakur and activist Mukesh Kumar have so far filed four PILs on the issue in the Supreme Court. After Hindenburg Research made several allegations against the Adani Group, the group's share prices have come down significantly. However, Adani Group has rejected these allegations.