A plea has been filed before the Supreme Court of India seeking an inquiry into the recent stock market crash that wiped out approximately ₹31 lakh crore in investor wealth on June 4. Advocate Vishal Tiwari filed the petition, calling for a detailed report from the central government and the Securities and Exchange Board of India (SEBI) on the matter.
The petition highlights the concerns of investors who suffered significant losses due to the sharp market decline. It alleges that despite previous directions from the court to address market volatility, the situation remains largely unchanged. The petition further draws attention to the discrepancies between exit poll predictions and actual election results, which may have contributed to the market’s erratic behavior.
The plea emphasizes the need for robust regulatory mechanisms to protect investors and ensure the stability of the stock market. It urges the Supreme Court to intervene and initiate an inquiry to identify the causes of the crash and suggest measures to prevent similar occurrences in the future.
