The Aam Aadmi Party said Thursday the Supreme Court's order for setting up a committee to look into various regulatory aspects of the stock markets, including the recent Adani Group shares crash, is a "tight slap" on the Modi government.

"This has today proved that the Modi government is corrupt and useless," AAP national spokesperson Sanjay Singh said at a press conference.

The apex court on Thursday ordered the setting up of a six-member committee headed by former top court judge A M Sapre to investigate the recent Adani Group shares crash triggered by the Hindenburg Research's fraud allegations and other regulatory aspects related to the stock markets.

A bench of Chief Justice D Y Chandrachud and justices P S Narasimha and J B Pardiwala said the panel will make an overall assessment of the situation, suggest measures to make investors aware and strengthen the existing regulatory measures for the stock markets.

The bench also directed the Centre, financial statutory bodies and the SEBI chairperson to render all cooperation to the panel, which will have to submit its report within two months.

Reacting to the apex court order, the AAP leader said, "It's a tight slap on the Modi government." "To save Adani, Modi can go to any extent," he charged.

Opposition parties have been demanding a joint parliamentary committee probe into allegations against the Adani Group, but the Modi government categorically rejected it, Singh said.

"The apex court of the country had to finally intervene," he added.

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