Hindenburg report: SEBI not seeking extension to complete probe into Adani Group, Centre tells Supreme Court

livemint.com:

Securities and Exchange Board of India (SEBI) on Friday said the Supreme Court that it would not seek an extension to complete a probe into Gautam Adani's group. As reported by ANI, During the hearing on the Hindenburg report matter, SG Tushar Mehta informed the Supreme Court that the SEBI is not requesting additional time for further investigations related to the Hindenburg report.

Among the 24 cases, investigations have been completed in 22 cases. Earlier on November 19, an application was filed in the Supreme Court, requesting contempt proceedings against the SEBI.

Also Read: Adani-Hindenburg row: Contempt plea filed in Supreme Court over SEBI probe delay The application alleged that SEBI has not concluded its investigation into the Adani-Hindenburg matter within the specified timeframe set by the Supreme Court, as reported by LiveLaw. In accordance with directives from the Supreme Court issued on May 17, SEBI was mandated to present its investigation findings in the Adani-Hindenburg case by August 14.

However, as noted by Advocate Vishal Tiwari, one of the petitioners involved in the case who filed a Public Interest Litigation (PIL), the market regulator has not yet submitted the report, as reported by the legal news portal. Also Read: Adani-Hindenburg row: SEBI submits report, tells SC it has completed probe; check details Apart from requesting contempt proceedings against SEBI, Advocate Vishal Tiwari, in his plea, also sought directives for the Expert Committee to investigate the report released by the Organised Crime and Corruption Reporting Project (OCCRP).

The OCCRP's report had made allegations of stock manipulation against Adani. Also Read: Hindenburg 2.0? George Soros-backed OCCRP said to be planning another