No extension required in Adani probe, Sebi tells SC

Bench expresses concerns about doubting integrity of Sebi, impartiality of experts’ panel

- Krishna Yadav

The Securities and Exchange Board of India (Sebi) on Friday informed the Supreme Court that it doesn't require an extension to conclude its inquiry into allegations against the Adani Group.

Investigation has concluded in 22 out of 24 cases, and information is needed from foreign regulators for the remaining two, the regulator said.

A three-judge bench headed by Chief Justice D.Y. Chandrachud reserved judgment on a set of petitions seeking a probe into the Adani-Hindenburg matter, and instructed all parties to submit written submissions by Monday.

On 24 January, Hindenburg Research, a US-based short-seller, released a damning report alleging multiple malpractices at Adani Group companies, which were vehemently denied by the group in a 413-page response.

Following this, public interest litigations (PILS) were filed in the Supreme Court by advocates Vishal Tiwari, M.L. Sharma, Congress leader Jaya Thakur, and activist Anamika Jaiswal.