New Delhi: Markets regulator SEBI has moved the Supreme Court to extend the deadline to complete the probe into allegations of stock price rigging and regulatory disclosure lapses by the Adani Group (Adani-Hindenburg Dispute). SEBI has requested to extend the time limit of an investigation by six months.
On March 2, the apex court asked Sebi to complete the probe into the matter within two months. Along with this, the court had also constituted a committee for the protection of Indian investors.
The American short seller in his report accused the Adani group of rigging the stock price. The group has termed all these allegations as baseless.
SEBI, in an application filed before the court, said it would take six more months to complete the proceedings to detect possible violations related to financial misrepresentation, fraud of regulations, and/or fraudulent transactions.
