In the Hindenburg report case, the Supreme Court gave SEBI three months to complete the investigation, know what the court said?

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The matter is currently before the Supreme Court regarding the Hindenburg Report, which has made serious allegations of fraud against the Adani group of companies. The Supreme Court has given SEBI three months more time for the investigation.

The Supreme Court has given Gautam Adani Group three months to submit its report on the probe into allegations of stock manipulation and accounting fraud by short seller firm Hindenburg Research.

According to media reports, the bench headed by Chief Justice DY Chandrachud has given time till August 14 to submit the report. The court will hear the matter further on July 11.

American short-seller firm Hindenburg Research accused Gautam Adani, an Indian businessman and close ally of Modi, and his companies of decades of stock manipulation and accounting fraud.

Several petitions were filed in the Supreme Court against the Adani Group after the Hindenburg Report. While hearing these petitions in March, the Supreme Court ordered SEBI to investigate.

Let us tell you that SEBI had sought six months from the Supreme Court to complete the investigation. The Supreme Court refused and said that now 6 months time can be given. It is necessary to keep some readiness in work.

We will report the matter in mid-August and take the report after that, the court said. 6 months cannot be given as minimum time. SEBI cannot take more time indefinitely and we will give them 3 months.