Submit report on Adani-Hindenburg probe by August 14, Supreme Court tells Sebi – Times of India

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NEW DELHI: The Supreme Court on Wednesday granted the Securities and Exchange Board of India (SEBI) an additional three months, until August 14, to complete its probe into possible lapses in regulatory disclosures by the Adani Group.
A bench headed by Chief Justice D Y Chandrachud directed the Sebi to file an updated status report on probe into allegations of stock price manipulation by Gautam Adani-led group.
The bench, also comprising Justices PS Narasimha and JB Pardiwala, also ordered that the report of the Justice A M Sapre committee, which was submitted to it, be made available to the parties to enable them to assist the court in the matter.
The Supreme Court listed the matter for further hearing on July 11.
Earlier, the Sebi had on July 25 told the apex court that it needed more time to probe the matter. The court had earlier asked the regulator to submit its report by July 31. The case pertains to a complaint filed by the Centre against Adani group’s Rs 16,000-crore coal mine project in Ratna in Chhattisgarh. The Centre has alleged that the group made fraudulent disclosures in its filings with the SEBI in connection with the project.



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