India’s Supreme Court appointed an expert panel to investigate if the country’s securities regulator failed to act on allegations against the Adani Group levelled by short seller Hindenburg Research.
The country’s top court on Wednesday directed the six-person panel to probe “regulatory failure in dealing with the alleged contravention of laws pertaining to the securities market in relation to the Adani Group”, according to the court order.
The Supreme Court asked the panel to provide “an overall assessment of the situation”, including assessing the causes of recent market volatility. The court ordered the panel to submit its findings within two months.
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