Regulators very skilled; seized of the matter: FM on Adani Group row
By PTI
NEW DELHI: Finance Minister Nirmala Sitharaman on Saturday mentioned the nation’s regulators are very skilled and are seized of the matter regarding the Adani Group disaster.
The minister was replying to a query on the observations of the Supreme Court on public curiosity litigations (PILs) alleging exploitation of buyers and “artificial crashing” of the Adani Group’s shares.
“I will not disclose here what the government will be saying in the court. India’s regulators are very, very experienced and they are experts in their domain. The regulators are seized of this matter and they are on their toes as always, not just now,” she advised reporters after her customary post-Budget deal with to the RBI’s board.
Concerned over defending the pursuits of Indian buyers, the Supreme Court on Friday favoured creating a sturdy mechanism to control the inventory market and sought views of the Centre and market regulator SEBI on PILs alleging exploitation of harmless buyers and “artificial crashing” of the Adani Group shares.
A bench headed by Chief Justice D Y Chandrachud additionally advised Solicitor General Tushar Mehta to convey to the officers of the Securities and Exchange Board of India (SEBI) that it was not “planning any witch hunt”.
The apex courtroom sought inputs from the finance ministry and others on varied points, together with on making the regulatory mechanism strong to guard the pursuits of buyers available in the market the place capital stream is seamless in fashionable occasions.
Adani Group shares have taken a beating on the bourses after US-based Hindenburg Research made a litany of allegations, together with fraudulent transactions and share-price manipulation, in opposition to the enterprise conglomerate.
The group has dismissed the fees as lies, saying it complies with all legal guidelines and disclosure necessities.
NEW DELHI: Finance Minister Nirmala Sitharaman on Saturday mentioned the nation’s regulators are very skilled and are seized of the matter regarding the Adani Group disaster.
The minister was replying to a query on the observations of the Supreme Court on public curiosity litigations (PILs) alleging exploitation of buyers and “artificial crashing” of the Adani Group’s shares.
“I will not disclose here what the government will be saying in the court. India’s regulators are very, very experienced and they are experts in their domain. The regulators are seized of this matter and they are on their toes as always, not just now,” she advised reporters after her customary post-Budget deal with to the RBI’s board.
Concerned over defending the pursuits of Indian buyers, the Supreme Court on Friday favoured creating a sturdy mechanism to control the inventory market and sought views of the Centre and market regulator SEBI on PILs alleging exploitation of harmless buyers and “artificial crashing” of the Adani Group shares.
A bench headed by Chief Justice D Y Chandrachud additionally advised Solicitor General Tushar Mehta to convey to the officers of the Securities and Exchange Board of India (SEBI) that it was not “planning any witch hunt”.
The apex courtroom sought inputs from the finance ministry and others on varied points, together with on making the regulatory mechanism strong to guard the pursuits of buyers available in the market the place capital stream is seamless in fashionable occasions.
Adani Group shares have taken a beating on the bourses after US-based Hindenburg Research made a litany of allegations, together with fraudulent transactions and share-price manipulation, in opposition to the enterprise conglomerate.
The group has dismissed the fees as lies, saying it complies with all legal guidelines and disclosure necessities.
