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Policy and regulations

SC’s Adani panel draws blank on ‘failure’, but nails evidence of Sebi shooting own foot on FPI policy

SC’s Adani panel draws blank on ‘failure’, but nails evidence of Sebi shooting own foot on FPI policy
SC’s Adani panel draws blank on ‘failure’, but nails evidence of Sebi shooting own foot on FPI policy
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A panel appointed by the Supreme Court submitted a report on Sebi probe into Adanis.

Synopsis

The expert committee scrutinised Sebi’s dropping of a key regulatory requirement for FPIs months before it developed suspicions on Adani group shareholdings. But it stops short of calling it a regulatory failure.

On March 2, the Supreme Court appointed an expert panel, headed by retired Judge Abhay Manohar Sapre to look into the allegations made by Hindenburg Research against the Adani group, to examine if there were any ‘regulatory failures’ and suggest measures to improve the system. The panel comprising another retired judge JP Devdhar, former bankers OP Bhatt and KV Kamath, corporate doyen Nandan Nilekani and senior securities lawyer Somsekhar
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The Economic Times