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MARKET CRASH AFTER POLL RESULTS - Plea urges SC to direct govt, Sebi to investigate
Business Standard
|June 08, 2024
A lawyer has filed an application before the Supreme Court "to direct" the government and the market regulator to give a report on the share market crash and loss to investors after election results Tuesday.
Vishal Tiwari also wants the Securities and Exchange Board of India (Sebi) to submit a report on its investigation of allegations against the Adani Group by US-based shortseller Hindenburg Research early last year.
The court said on January 3 that there was "no ground" to transfer Sebi's investigation either to a special investigation team or the Central Bureau of Investigation (CBI). It asked Sebi to conclude its remaining two investigations of the group by April 3. Sebi is yet to update the court about the investigations. The court had asked Sebi and the government to investigate whether "the loss suffered by Indian investors due to the conduct of Hindenburg Research and any other entities in taking short positions involved any infraction of law".
This story is from the June 08, 2024 edition of Business Standard.
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