Key Points
Markets regulator SEBI has asked the Supreme Court for more time for its investigation into the allegations levelled by US-based short-seller Hindenburg on billionaire Gautam Adani's conglomerate..
Earlier On March 2, the Supreme Court set up an expert committee amid the controversy arising out of a report by US short-seller Hindenburg Research on the Adani Group..
The Securities and Exchange Board of India (Sebi) on Saturday moved the Supreme Court seeking six-months extension to complete its probe into Hindenburg allegations of brazen stock manipulation and an accounting fraud scheme by the Adani group...
The Supreme Court had in March announced an expert committee to examine Indias investor protection framework in response to public interest litigation (PIL) following the crash in Adani Group securities in the wake of the Hindenburg Research report in late January..
The apex court had noted that the Sebi was already investigating allegations made in the Hindenburg report against the Adani Group as well as enquiring into market activity immediately preceding and post the publication of the Hindenburg report to identify violations..
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