Key Points
Market regulator SEBI on Friday informed the Supreme Court that it will not be seeking an extension to complete its probe in the Adani-Hindenburg matter...
A Supreme Court-appointed expert committee had in an interim report in May stated that it saw "no evident pattern of manipulation" in billionaire Gautam Adani's companies and there was no regulatory failure...
It, however, cited several amendments the SEBI made between 2014 and 2019 that constrained the regulator's ability to investigate, and its probe into alleged violations money flows from offshore entities has "drawn a blank"...
"There is no objection to the recommendations of the expert committee for strengthening the regulatory mechanism and the recommendations are under considerations and in principle we have accepted the recommendation," Mehta said.. Adani has been embroiled in controversy since January 2023 when Hindenburg Research alleged corporate misgovernance, among other charges, which the conglomerate has vehemently denied..
The probe reports finalised include allegations of manipulation of stock prices, alleged failure to disclose transactions with related parties and possible violation of insider trading in some of the group stocks...
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