New Delhi: Finance Minister Nirmala Sitharaman on Saturday said that the country’s regulators are very experienced and understand the matter related to Adani Group’s crisis. The minister was replying to a question on the Supreme Court’s observations on PILs related to alleged exploitation of investors and “artificial fall” of Adani Group’s shares.
“I will not disclose here what the government will say in the court… Regulators of India are very experienced and they are experts in their domain. Regulators are aware of the matter and they are on their toes as usual, no budget he told reporters after addressing the board of the Reserve Bank of India.Also read: PM-KISAN: These farmers are not eligible to get the benefits of the scheme- Check details,
Concerned about protecting the interests of Indian investors, the Supreme Court on Friday favored creating a stronger mechanism to regulate the stock market and took a stand on public interest litigations alleging exploitation of innocent investors and “artificial crash” of the Adani group. Seeks views of market regulator SEBI. stock. ,Also Read: Wealth Creation Plan: Invest In These SBI Mutual Fund Schemes To Get Strong Profits- Check Return Calculator Here,
A bench headed by Chief Justice DY Chandrachud also asked Solicitor General Tushar Mehta to convey to the Securities and Exchange Board of India (SEBI) officials that it is “not planning any witch hunt”.
The apex court sought views of the finance ministry and others on various issues including strengthening of regulatory mechanism to protect the interests of investors in a market where the flow of capital is unfettered in modern times.
Shares of Adani Group have taken a hit in the stock market after US-based Hindenburg Research made several allegations against the business conglomerate, including fraudulent transactions and share-price manipulation. The group has dismissed the allegations as false, adding that it complies with all laws and disclosure requirements.