The Securities and Exchange Board of India (SEBI) on Monday filed a 41 page affidavit in the Supreme Court in the Adani-Hindenburg case and placed on record the recommendations from the expert committee and petitioners. SEBI is also looking for 'appropriate orders' from the Supreme Court.
According to a report, the expert committee said violations of securities laws need prompt action in order to limit the negative impact on the securities market.
A report by Bar and Bench said the panel had recommended robust settlement policy. The panel reportedly said, "Put in place a coherent policy on settlement of proceedings, whereby financial injury commensurate with the alleged violation may be inflicted on the party and resources need not be expected where a settlement is possible."
Supreme Court's deadline for SEBI
The apex court had granted the market regulator till August 14, 2023 to complete its probe of the Adani-Hindenburg issue and then submit its report.
