Suspense Crime Sach Ka Dam
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The Supreme Court today gave the Securities and Exchange Board of India (SEBI) time till August 14 to investigate allegations against Adani Group of artificially fluctuating share prices. The Supreme Court has asked the market regulator to update the investigation report regularly.
A bench headed by Chief Justice DY Chandrachud asked Sebi to provide the parties with a copy of the report submitted by the Supreme Court-appointed Justice (Retd) AM Supra Expert Committee.
When Solicitor General Tushar Mehta, appearing for SEBI, requested SEBI to give time till September for the probe, the bench said that we cannot extend the time indefinitely. If there is a valid reason, you can inform us about it.
A bench of Chief Justice DY Chandrachud, Justice PS Narasimha and Justice JB Pardiwala was hearing the petitions filed on the Adani-Hinderberg dispute.
Senior advocate Prashant Bhushan, appearing for one of the petitioners, told the Supreme Court during the hearing that despite several complaints, SEBI has not taken any action. The regulator is yet to tell the court whether it has appointed anyone to investigate.
Hindberg Research published a report in January this year. In this report, the American short selling firm has made several allegations against the Adani Group led by Gautam Adani. Hindberg leveled several allegations against the Adani group, including artificial fluctuations in share prices.
