New Delhi, Feb 17 (TIWN): The Supreme Court Friday refused to accept in a sealed cover the Centre's suggestion on a proposed panel of experts for strengthening regulatory measures for stock markets in the wake of the recent Adani Group shares crash triggered by Hindenburg Research's fraud allegations.

“We are closing it for orders,” said the bench headed by Chief Justice D Y Chandrachud after hearing brief submissions by Solicitor General Tushar Mehta and PIL petitioners including lawyers Prashant Bhushan and M L Sharma.

At the outset, the law officer said he had given a note on the names and “remit” (scope) of the committee in a sealed cover. “‘This has been given with two intentions in mind. A. a holistic view is taken and the truth comes out; B. No unintended message goes out having an impact on the security market, which is an emotion driven market,” Mehta said.

The bench referred to the losses suffered by the investors.

The law officer said he has no issues with regard to any judge supervising the committee.

“We would rather not accept the sealed cover suggestions. We want to ensure transparency. In case we take your suggestions from sealed cover, it automatically means the other party won't know,” said the bench, which also comprised Justices P S Narasimha and J B Pardiwala .