New Delhi: The Securities and Exchange Board of India (SEBI) on Monday told the Supreme Court that it has not investigated any Adani company since 2016, Bar and Bench reported.
Meanwhile, SEBI requested in the apex court a 6 months extension to complete its investigation into Hindenburg Research’s allegations against the Adani group.
A bench, headed by CJI Chandrachud, will shortly consider application, according to The Indian Express.
However, on Friday, the court denied granting six months to the SEBI to complete its probe.
“We cannot grant 6 months now. There needs to be some alacrity in the work. Put together a team. We can list the case in August mid and have the report then.. 6 months cannot be given as a minimum time. SEBI cannot take indefinitely long period and we will give them 3 months,” the court said.
The US-based short seller firm Hindenburg Research made a bombshell revelation in January accusing Adani Group of 'brazen stock manipulation and accounting fraud scheme over the course of decades.'