Adani-Hindenburg dispute: SC suggests giving SEBI three more months to complete investigation

The supreme court said on Friday it could consider granting three more months SEBI for completing its investigation into allegations of stock price manipulation by the Adani Group and failures in disclosures by regulators, and on May 15 listed a number of PILs and appeals from the market regulator.

A chamber composed of Chief Justices DY Chandrachud and Justices PS Narasimha and JB Pardiwala said the court registry had received the report Judge (Retired) Appointed by the Supreme Court AM Sapre Committee on the subject and would like to hear the matter on Monday after reviewing the panel’s findings.

Also read: Adani Inquiry: SEBI move is disappointing

“We’ll go through the report in the meantime. “We will look into the matter on May 15,” the bank said.

During the hearing, the court told Attorney General Tushar Mehta, representing SEBI, that it could grant the market regulator three months Instead of six, attempts were made to complete the investigation in allegations of stock manipulation.

Adani vs. Hindenburg: An eternal battle between bulls and bears
Adani vs. Hindenburg: An eternal battle between bulls and bears

It cautioned an attorney representing plaintiff Jaya Thakur, saying the court had said nothing about any regulatory failures by SEBI.

“Be careful when making claims. This could affect sentiment on the stock market. Those are all your allegations and the panel was formed to look into them,” the bank said.