On February 13, the Union Government declared its readiness to set up a committee to assess if the regulatory environment needed to be changed to protect Indian investors in the aftermath of the Adani-Hindenburg scandal. 

Tushar Mehta, the Indian Solicitor General,:

"I have instructions that SEBI and other agencies are fully equipped, not only regime wise, but otherwise also to take care of the situation. However, responding to the suggestion which fell from the Court, the government has no objection for constituting a committee. But the remit of the committee would be very relevant because any unintentional message to international investors or domestic investors that the regulatory authorities need a monitoring by the committee may have some adverse impact on the flow of money.  So, permit us to suggest the remit of the committee, with possible suggestion of the names of the committee members. We can provide names in a sealed cover because it may not be appropriate to discuss in open court hearing. They are people of some calibre".

The petition will be heard on Friday, as advised by Chief Justice of India DY Chandrachud, who also suggested that the SG provide a note on the proposed mandate of the committee by Wednesday. 

The bench concurred and set the subject for February 17th, 2023. 

Two PILs submitted by Vishal Tiwari and Manohar Lal Sharma requesting an investigation into the Hindenburg report were being considered by the bench made up of Chief Justice DY Chandrachud, Justice PS Narasimha, and Justice JB Pardiwala.

Case Title : Vishal Tiwari vs Union of India, Manohar Lal Sharma vs Union of India 
Citation: W.P.(C) No. 162/2023, W.P.(Crl.) No. 39/2023