At a post Budget press conference, Union Finance Minister Nirmala Sitharaman reiterated that regulators like Sebi and RBI are “very experienced and seized of the matter” related to the Adani Group.
She said the regulators are well-equipped to handle the situation that has arisen following a report by US-based short seller Hindenburg Research. Addressing the media in Mumbai, the FM said the regulators “are on their toes as always, not just now”.
“India’s regulators are very experienced and they are experts in their domains,” she said at the press conference following the RBI Central Board of Directors meeting.
Adani Group shares have taken a massive beating after the Hindenburg Research came out with a report late last month alleging that the conglomerate was involved in brazen stock manipulation and accounting fraud. The Adani Group denied all allegations.
Meanwhile, the Supreme Court on Friday sought Centre and SEBI’s views to ensure interests of Indian investors are protected in the wake of Adani-Hindenburg row.
A bench led by Chief Justice of India DY Chandrachud said there is a need for improvement in regulatory framework. “We are not casting any aspersions on SEBI. We need to consider if any modifications of regulatory framework is required. We need to put in a regulatory mechanism to ensure it does not happen in future,” the CJI said.
