Key Points
"SEBI, in the forgoing circumstances, most respectfully submits that in order to enable SEBI to conduct a proper investigation and arrive at verified findings, it would be just, expedient and in the interest of justice that this Court may be pleased to extend the time to conclude the investigations as directed in the common order dated 02.03.2023, by at least 6 months," SEBI said.ANI..
The Supreme Court on Friday will hear the pleas on the Adani-Hindenburg row, filed by the Securities and Exchange Board of India (SEBI) seeking to extend the time to conclude the investigation in the Hindenburg report by a period of 6 months...
The bench led by Chief Justice of India Dr Dhananjaya Yeshwant Chadrachud and also comprising Justices PS Narsimha and JB Pardiwala will hear the matter on Friday almost two months after it had asked market regulator and an experts' panel to probe the matter...
SEBI, in the application also submitted that for ascertaining possible violations related to misrepresentation of financials, circumvention of Regulations and/or fraudulent nature of transactions in respect of 12 suspicious transactions mentioned herein above, given the complexity of the matter, SEBI in the normal course would take at least 15 months for completion of the investigation of these transactions, but is making all reasonable endeavours to conclude the same within six months...
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