Indian Supreme Court gives SEBI time till mid-August to investigate Hindenburg claims on Adani Group
19-May-2023The Supreme Court of India on May 17, allowed the Securities and Exchange Board of India till August 14, 2023, to complete its investigation into allegations of stock manipulation and fraud against the Adani Group.
The Supreme Court of India on May 17, allowed the Securities and Exchange Board of India till August 14, 2023, to complete its investigation into allegations of stock manipulation and fraud against the Adani Group.
The SEBI had originally been given two months on March 2.
In late April, it sought an extension of the May 2 deadline so it gets six months to finish the investigation. Initially reticent about granting a lengthy extension, the Supreme Court has given SEBI over three extra months to complete the probe within.
According to LiveLaw, a bench of Chief Justice of India D.Y. Chandrachud, Justice P.S. Narasimha and Justice J.B. Pardiwala told the Solicitor General Tushar Mehta today, “We granted 2 months and now extended it till August which makes it 5 months. If you have any genuine difficulty, tell us then.”
