Meet the SC-appointed expert panel members who will probe Adani-Hindenburg case
A bench led by CJI DY Chandrachud appointed the following persons as members of the committee: OP Bhatt, Justice KP Devdatt, KV Kamat, Nandan Nilekani and Somasekhar Sundaresan.
FollowThe Supreme Court on Thursday (March 2) directed Securities and Exchange Board of India (SEBI) to complete its probe in the Adani-Hindenburg row and submit the report within two months. Former SC judge AM Sapre will head the committee.
Delivering the order, Chief Justice of India (CJI) DY Chandrachud said, "This court noted that there was a need for the committee for regulatory mechanisms to ensure the safety of investors."
"In order to protect Indian investors, we are of the view that there shall be a committee. The committee consists of OP Bhat, Justice JP Devdatt, Nandan Nilakeni, KV Kamath, and Somasekharan Sundaresan as the members," he said.
A bench comprising Chief Justice DY Chandrachud, Justice PS Narasimha and Justice JB Pardiwala was to pass the order on constituting an expert committee to analyse if the regulatory mechanism needs to be strengthened to protect Indian investors.
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This came after a report by US-based short-seller Hindenburg Research released a report on Adani Group, leading to a major sell-off. Over $100 billion have been wiped off from the Group's valuation since the report's release just over a month ago.
OP Bhatt is a former Chairman of State Bank of India (SBI). Presently, Bhatt is working as an Independent director in Board member for TATA Steel Limited. Nandan Nilakeni is the co-founder and chairman of Infosys.
The panel member also includes KV Kamath, the former chief of the New Development Bank. He also served as the Chairman of Infosys Limited and as the Non-Executive Chairman of ICICI Bank.
