Buzzbytes
In a significant decision, the Supreme Court has declined a Special Investigation Team (SIT) probe into stock price manipulation allegations against the Adani Group. The court directed market regulator SEBI to conclude its investigation within three months, emphasizing the importance of respecting SEBI’s regulatory policies. The Chief Justice, D Y Chandrachud, highlighted that the facts did not warrant transferring the investigation from SEBI and rejected claims of “conflict of interest” against the expert committee. The court urged SEBI to strengthen its regulatory framework based on suggestions from the committee. This verdict follows a series of allegations and a contentious legal battle involving the Adani Group.
