New Delhi: Sebi has failed to complete the Adani probe within the deadline set by the Supreme Court. On March 2, the Supreme Court had said that Sebi will have to submit a report within two months after examining whether there was any irregularity in the entire issue, whether the Adanis influenced the stock market in any way, the substance of the Hindenberg report.
That deadline is almost over. However, Sebi is yet to show much progress in the investigation. According to sources, Sebi has approached the Supreme Court against Adanis.
There is no evidence yet to reach a definitive conclusion. The investigation needs another six months. The apex court will take a decision on the matter on the next date of hearing in the case.
The Adani group welcomed Sebi’s decision to seek additional time. “We have welcomed this investigation from the beginning,” the Adani group said in a statement. The agency will continue to cooperate with investigators in the coming days in the same way it has been cooperating with investigators for so long. Uncovering the truth requires an impartial and time-consuming investigation. At the same time, the Adani group has requested the media not to broadcast any misleading news about the investigation till the investigation is completed.
