SEBI wants 15 more days to complete Adani-Hindenburg case investigation
The Securities and Exchange Board of India (SEBI) has requested the Supreme Court an additional 15 days to complete its investigation into Hindenburg Research's allegations against the Adani Group. The market regulator said the investigation is at an advanced stage in its application for extension. SEBI informed the apex court that it needs time to look into some brokers in the case.
SEBI had asked for an extension before
This is the second time SEBI has sought an extension. It was tasked by the Supreme Court to investigate the allegations against Adani Group on March 2. On April 29, the regulator sought six more months. The court, however, gave three months to conclude its investigation and submit a report. The next hearing of the case is scheduled for August 29.
Supreme Court-appointed panel gave clean chit to Adani Group
In May, a Supreme Court-appointed expert panel submitted its report on the Adani Group. The panel had given a clean chit to the conglomerate. The committee said Adani Group did not commit any price manipulation. It added that the conglomerate took the necessary steps to protect the interests of retail investors. Adani Group has consistently denied the allegations.
