The Supreme Court on Wednesday granted the Securities and Exchange Board of India (Sebi) upto three months to complete its probe into Hindenburg’s allegations towards the Adani Group. The CJI-led bench mentioned that we’re coping with the fallout of the Hindenburg report proper now. CJI DY Chandrachud mentioned that the problem non-compliance of the MPS norms flagged within the Hindenburg report has some bearing.
Senior advocate Prashant (*14*) mentioned there’s a clear try to defend the Adani Group corporations and there have been a number of issues listed with the Sebi and Securities Appellate Tribunal (SAT). He additionally mentioned that regardless of doubts concerning the group, its shares elevated round 10,000 per cent in two years.
Commenting on SEBI’s probe into Hindenburg’s allegations, (*14*) mentioned there can’t be any certainty concerning until the capital markets regulator places down particulars concerning the 2016 probe on report. The Minister mentioned within the Parliament that the SEBI was investigating the Adani Group since 2016 and 2021, (*14*) mentioned. The senior counsel added that the regulator has to give info on report.
(More particulars to be added later)
