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Monday, July 15th, 2024

Petition filed in Supreme Court to investigate the fall in stock market after election results

New Delhi: A petition has been filed in the Supreme Court regarding the steep fall in the stock market after the results of the Lok Sabha elections, requesting that a report be sought from the Central Government and the Securities and Exchange Board of India (SEBI) in this matter. The petitioner said that after the elections, the stock market reached new heights after the predicted results in the exit polls but when the actual results came out, the market crashed. According to the report, there has been a loss of lakhs of rupees due to this. A request has been made to seek a report from SEBI and the Government in the matter.

Petition filed for intervention in Adani-Hindenburg
The petition has been filed in the Supreme Court by Advocate Vishal Tiwari. The case is already pending in the Supreme Court in the Adani-Hindenburg case. Filing an intervention petition in this case, Advocate Tiwari has said that in view of the massive fall in the market after the election results, SEBI and the Central Government should be asked to submit a detailed report in the matter as to why such a fall was recorded in the stock market. Earlier in the Adani-Hindenburg case, in January this year, the Supreme Court had directed the Central Government and SEBI to consider the recommendations made by the Expert Committee to protect the interests of Indian investors.

What is in the petition?
In the current petition, Vishal Tiwari has said that it is not clear whether the Supreme Court’s order has been implemented in this case or not. Also, it is not clear whether the records have been presented in the court or not. Indian investors and people have the right to know whether the stock market has fallen due to some irregularities because after the release of Hindenburg report, a huge fall was recorded in the market.

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