New Delhi, July 15 (IANS) The Supreme Court has dismissed a review petition filed against its January 3 verdict refusing to form any SIT or group of experts to conduct an investigation into the Adani-Hindenburg controversy.
After perusing the review petition, a bench, headed by CJI D.Y. Chandrachud, said that there was no error apparent on the face of the record.
“No case for review under Order XLVII Rule 1 of the Supreme Court Rules 2013. The review petition is, therefore, dismissed. Pending applications, if any, stand disposed of,” added the Bench, also comprising Justices J.B. Pardiwala and Manoj Misra.
In a detailed order passed on January 3, the Supreme Court had said that reports prepared by third-party organisations such as the Organized Crime and Corruption Reporting Project (OCCRP) and Hindenburg Research cannot be regarded as “conclusive proof”.
It had said that the reliance placed by PIL litigants on newspaper articles or reports by third-party organisations “does not inspire confidence” to question the comprehensive investigation undertaken by the SEBI.
The SC said that the facts in the case did not warrant a transfer of investigation from the SEBI and asked the market regulator to take its investigation to a logical conclusion in accordance with the law.
The top court cautioned against the use of unverified and unrelated material in the filing of public interest litigations (PILs), adding that pleas lacking adequate research and relying on unverified and unrelated material tend to be “counterproductive”.
However, the Supreme Court had asked the Central government to constructively consider the suggestions made by the expert panel headed by former apex court judge Justice A.M. Sapre.
“The Government of India and SEBI will take any further actions as are necessary to strengthen the regulatory framework to protect investors and ensure the orderly functioning of the securities market,” it said.
The apex court had asked SEBI and other investigative agencies of the Union government to probe into allegations of short selling resulting in loss of investors’ value.
–IANS
pds/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
