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The Hindu
The Hindu
National
Krishnadas Rajagopal

SEBI can’t be expected to take OCCRP allegations in Adani case as gospel truth: SC

SEBI Adani Prashant Bhushan OCCRP Adani Group DY Chandrachud Tushar Mehta AM Sapre DRI the Adani Group

The Supreme Court on November 24 said statutory market regulator, the Securities and Exchange Board of India (SEBI), cannot be expected to accept as “gospel truth” foreign media reports about Organised Crime and Corruption Reporting Project (OCCRP)’s findings of alleged stock manipulation and accounting fraud against the Adani Group.

“You cannot expect a statutory regulator to take as gospel truth something that has been reported in a financial newspaper. We are not discrediting the reports, but we cannot certainly say that they are evidence for the SEBI,” Chief Justice of India D.Y. Chandrachud addressed advocate Prashant Bhushan, appearing for petitioner Anamika Jaiswal.

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