The Supreme Court on Friday asked the Securities and Exchange Board of India (Sebi) to respond by Monday on measures that can be taken to protect Indian investors from instances like the slump in Adani group stocks after a critical report by the American short-seller Hindenburg Research. A Bench, comprising Chief Justice of India (CJI) D Y Chandrachud and Justices P S Narasimha and J B Pardiwala, asked the markets regulator to give a detailed response on how a strong framework can be put in place to prevent such instances. “It is said the total loss by Indian investors is several lakh crores. How do we ensure they are protected? It is said to be Rs 10 lakh crores. How do we ensure that this does not happen in the future? What role should be envisaged for Sebi in the future?” the Bench asked. The court suggested an expert committee that could confer wider powers to Sebi.
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