Plea against Sebi in Supreme Court for delay in final Adani-Hindenburg report

An application has been filed in the Supreme Court against the Securities and Exchange Board of India (Sebi) regarding the delay in the completion of the investigation into the Adani-Hinderburg matter.

An application has been filed in the Supreme Court against the Securities and Exchange Board of India (Sebi) regarding the delay in the completion of the investigation into the Adani-Hinderburg matter.

The applicant sought contempt proceedings against the market regulator for not complying with the timeline framed by the top court.

The Supreme Court had set August 14 as the deadline for Sebi to submit the report on the allegations made by US-based Hindenburg Research against the Adani Group, which included fraudulent transactions and share-price manipulation.

Earlier, the Sebi had told the Supreme Court that it had completed the probe into all but two allegations against the Adani Group and was awaiting information from five tax havens on the actual owners behind foreign investors investing in the conglomerate

The applicant also asked the committee probing the Hindenburg allegations to conduct an investigation into the allegations of millions of dollars being invested in publicly traded Adani stocks through Mauritius-based opaque investment funds.