Supreme Court orders SEBI to submit status report on Adani by August 14 deadline

Telangana: The Supreme Court has set a deadline for the investigation being conducted by the Securities and Exchange Board of India (Sebi) into the Adani Group case. It ordered to give a status report on this issue before August 14. Solicitor General Tushar Mehta, on behalf of SEBI, appealed to the bench to give time till the end of September to investigate the Adani dispute. Responding to this, the court decided that it cannot sit by extending the time indefinitely. A bench headed by Chief Justice of India Justice DY Chandrachud said that if any problems arise in the investigation, they should be brought to their notice. The court adjourned the hearing of the case to July 11 to thoroughly analyze the report already submitted by the expert committee.

Two months ago, SEBI and the Special Expert Committee set up by the Supreme Court had separately launched a probe into the Adani-Hindenburg case. The expert committee submitted its report to the court in a sealed cover before the deadline. However, SEBI’s request to the court for another six months for the investigation raises suspicions.