Let JPC probe Adani

As a member of the joint parliamentary committees (JPCs) set up to enquire into the Harshad Mehta stock market scam of the early 1990s and the Ketan Parekh stock market scam of a decade later, I am disturbed that the current government has not promptly moved to set up a JPC to enquire into the hammering Adani stocks have received in the wake of the Hindenburg report detailing what it calls “brazen stock manipulation and accounting fraud”, and “poor corporate governance” in the conglomerate.

- MANI SHANKAR AIYAR

The charges are specific; Adani’s responses are vague. Regulatory supervision is the function of the government and its agencies. The key question is whether such supervision has in the present case been exercised with due diligence. Only the regulators can clarify, and only a JPC can compel them to do so.