Winning Bizness Desk
Mumbai. Finance Minister Nirmala Sitharaman attended the customary post-budget meeting with the Reserve Bank of India Board on Saturday. During the conversation with the media after the meeting, she spoke on the Supreme Court's comment regarding the Adani-Hindenburg case. Sitharaman said, 'Regulatory institutions working in India are very experienced and they have full understanding of their field. The regulators are working on this issue and are working hard like always. So I leave it up to them. Sitharaman further said, 'You are certainly not expecting it, that I will tell you what I will say to the Supreme Court.'
Huge fall in the shares of Adani firms
After the report of Hindenburg Research regarding Adani Group, there has been a huge fall in the shares of its companies. Two petitions were filed in the Supreme Court regarding this. While hearing on these, on Friday, the Supreme Court had expressed concern about the interest of the investors. Chief Justice D.Y. A bench headed by Chandrachud expressed concern about giving priority to the safety of Indian investors in this matter. Along with this, answers have been sought from the market regulator SEBI and the Ministry of Finance. The next hearing in this matter is now to be held on Monday. Not only this, the Supreme Court has also instructed to look into this matter carefully, because any comment made in the Supreme Court regarding this can affect the market. Along with this, a proposal of an inquiry committee has also been made. With this Justice D.Y. Chandrachud said that this is a policy matter, we do not want to go into it. This is part of the jurisdiction of the government.
Supreme Court expressed concern
Even before the Supreme Court expressed concern, the Finance Ministry had worked to allay the fears of investors. The ministry had said that this one incident will not affect the image of Bharti in the international market. At the same time, both have given clarification regarding the investment of LIC and SBI in Adani Group. Both the financial institutions have invested in the Adani group in a limited manner. Nirmala Sitharaman also spoke about the discussion held in the meeting with the Reserve Bank's board. Regarding cryptocurrency, he said, “Technology has more of a role in cryptocurrency, so we are talking to all countries. If rules have to be brought regarding crypto, can any standard operating procedure be followed, because a single country cannot do anything on crypto. Discussions are going on with G20 countries.