Sensex Hits 80,000: CJI Calls for Moderation from SEBI & SAT
- Posted on July 4, 2024
- News
- By Arijit Dutta
- 145 Views
Chief Justice Chandrachud urges caution as Sensex hits 80,000. He emphasizes SEBI and SAT's crucial role in maintaining market stability, suggests additional SAT benches to handle increased workload, and stresses the importance of technological advancements in regulatory oversight.
With the Sensex crossing the 80,000 points mark , the Chief Justice of India DY Chandrachud has urged market regulators to be more alert.
During the inauguration ceremony of new premises of Securities Appellate Tribunal (SAT), Chief Justice of India, CJI Chandrachud, underlined the need for being cautious in relation to the current market upswing. The more you see the surge in the stock market the greater, I believe, the role for SEBI and SAT as institutions which will exercise caution, celebrate success but at the same time ensure that the backbone is strong, he said.
As the Chief Justice mentioned, SEBI and SAT play significant roles in providing a stable environment for investments. He underscored the importance of such institutions in the development of the economic growth by providing adequate protection to investors and efficient resolution of the existing disputes.
As market participants and transaction volumes are increasing significantly, CJI Chandrachud has proposed to set up more benches of SAT. He said that there are now 1,028 cases that are still on appeals in the tribunal.
The Chief Justice also canvassed for timely appointment to the various positions in SAT to ensure it operates optimally. He activated a new SAT website created by the National Informatics Centre, which proves that the administration of the country needs new technologies to enhance people’s rights to justice.
As Indian markets start getting into what some are already calling a ‘stratospheric domain’ the words of the CJI are more than a reminder of achieving success economically, while at the same time keeping in view the regulatory mechanism.
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This new comes at a time when Indian stock market is on upward trend and both the Sensex and Nifty are touching the new highs. The increase shows increased investors’ confidence in the India’s economy but at the same time it gives rise to the concentration of market issues and the importance of sound market regulation.