Adani-Hindenburg row: Govt prepares list of names for expert committee

The central government has prepared a list of names to be part of the expert committee, the formation of which was suggested by the Supreme Court to look into the fall of the conglomerate’s shares and recommend improvement in statutory and regulatory regimes. 

Sources have told India Today that the names for the panel will be handed over to the apex court in a sealed cover. The names selected by the Centre include domain experts from various areas, they said. The names have been reportedly selected by the government keeping in mind the concern of the court over the protection of investors. 

The government is also expected to submit before the court that the scope of any expert panel be limited and that the panel works within defined parameters. 

The Supreme Court had proposed setting up a panel of experts, to which the Centre agreed. However, the central government said that while it has no objection to the constituting of the panel, it stressed that market regulator Securities and Exchange Board of India (SEBI) and other statutory bodies are "fully equipped", not only regime wise, but otherwise also to deal with the situation. 

The apex court had asked the Centre to consider setting up the panel, headed by a former judge. 

The court was hearing two PILs alleging exploitation of innocent investors and "artificial crashing" of the Adani Group's stock value.  The two PILs will be heard on Friday. 

One PIL sought a direction to the Centre to constitute a committee monitored by a retired apex court judge to inquire into the Hindenburg Research report, while the other one sought prosecution of short-seller Nathan Anderson of Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the "artificial crashing" of the Adani Group's stock value in the market.

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