In Brief
Following publication of the Hindenburg Research report in January 2023 alleging share price manipulation and regulatory violations by the Adani Group of companies, the Supreme Court directed SEBI to investigate alleged breaches of securities laws within two months. The Court reaffirmed SEBI's regulatory authority and specialist role in protecting investors. Additionally, the Court constituted an Expert Committee to assess the adequacy of the existing regulatory framework and recommend strengthening measures to protect Indian investors against future market volatility, while preserving SEBI's investigatory independence and powers.
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