SC gives SEBI three months more for probe into Hindenburg report on Adani group
In the last week itself, the top court had made it clear that it would give market regulator just three more months to complete its task.
In the last week itself, the top court had made it clear that it would give market regulator just three more months to complete its task.
In its response affidavit to a petition relating to the Hindenburg report, the market regulator told the Supreme Court that investigation done earlier pertains to the issuance of Global Depository Receipts (“GDRs”) by 51 Indian listed companies.
The apex court disclosed that the Securities and Exchange Board of India (SEBI) will get another three months to complete its probe into Adani-related volatility in the securities market and not six months sought by it.
The Securities and Exchange Board of India (SEBI) in a note to the Supreme Court relating to the Adani case has voiced its opposition to any kind of ban on short-selling of the shares.
The court posted the matter for hearing on February 13, 2023.
Manohar Lal Sharma urged the apex court to issue a gag order restraining the media from releasing any allegations against the listed companies without being pre-verified by the SEBI.
