- HINDENBURG REPORT: 3-MONTH DEADLINE FOR SEBI
The verdict prompted Adani Group chairman Gautam Adani to tweet: "Truth has prevailed".
Stating that its power to enter the regulator's domain was "limited", the apex court asked Sebi to conclude its investigation into the allegations by US-based short-seller Hindenburg Research within three months.
The three-judge bench comprising Chief Justice DY Chandrachud and Justices JB Pardiwala and Manoj Misra dismissed all writ petitions filed in February 2023,raising concerns over the decline in investor wealth and volatility in the share market due to a fall in the share prices of the Adani Group companies.
"The court must refrain from substituting its own wisdom over the regulatory policies of Sebi. The scope of judicial review when examining a policy framed by a specialised regulator is to scrutinise whether it violates fundamental rights, any provision of the constitution, any statutory provision or is manifestly arbitrary," court said in its judgment.
The SC also said that "no valid grounds" were raised for the court to direct Sebi to revoke its amendments to foreign portfolio investors and listing regulations as the procedure followed in arriving at the current shape of the regulations does not suffer from irregularity or illegality.
Denne historien er fra January 04, 2024-utgaven av Financial Express Mumbai.
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Denne historien er fra January 04, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Murdoch ally helps Ambani build media empire in India
SOHEE KIM PR SANJAI
Pandya, Dube & Rinku: Can they finish for India at T20 World Cup?
GOING INTO THE 2022 T20 World Cup in Australia Dinesh Karthik was assigned the finisher role and the batting lineup was built accordingly.
Nestle adds sugar to infant milk and cereal, finds report
A NEW REPORT has revealed that Nestle, the world's largest consumer goods and manufacturer of baby formula, is adding sugar to infant milk and cereal products sold in India, and other Asian, and African countries.
India-made Daimler's electric mini truck to hit the road soon
INDIA WILL BE host to German trucking giant Daimler's only electric vehicle plant outside of Europe and Japan when it launches a locally-made electric light cargo truck in FY25.
Samsung eyes ₹10,000 cr from India TV biz this year
SOUTH KOREAN GIANT Samsung is targeting a turnover of ₹10,000 crores for its television business in India this year, driven by growth in sales of its mid to-premium segment models, said Mohandeep Singh, senior VP, consumer electronics business in India.
Microsoft AI Copilot speed boost for coding
WHEN SOFTWARE DEVELOPER Nikolai Avteniev got his hands on a preview version of Microsoft's Copilot coding assistant in 2021, he quickly saw the potential.
US, China debt pose risks for global public finances: IMF
THE WORLD's TWO great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with US spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said in a report.
Language models in consumer tech
This move is designed to ensure better user experience & privacy
'Data centres' energy use doubles every four years'
Data centres are significant energy consumers, using about 2% of the world's power and emitting carbon dioxide equivalent to the airline industry.
Vi FPO: Foreign players invest big; about ₹5,400 crore raised
GQG, Fidelity buy almost 40% of the anchor investor portion
