Petition in SC demands SEBI report on stock market crash

New Delhi, June 8

An advocate has moved the Supreme Court seeking directions to the Centre and SEBI to submit detailed reports on the share market crash on the day of declaration of the Lok Sabha poll results on June 4, leading to investors’ loss running into thousands of crores of rupees.

Advocate Vishal Tiwari – one of the petitioners in the Adani Hindenburg case – filed an interlocutory application in the matter and urged the top court to issue necessary directions to market regulator SEBI.

Noting that a loss of nearly Rs 20 lakh crore was reported by the media, Tiwari said it put a question mark upon the regulatory mechanism of the stock market as after the loss suffered in 2023, the same has been repeated and despite this court’s direction nothing has changed.