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The Securities and Exchange Board of India (SEBI) on August 14 filed an application with the Supreme Court seeking 15 more days to submit the report on the allegations made by US-based short-seller Hindenburg Research against the Adani Group, saying that it has completed investigating 17 out of the 24 transactions it had taken up for probe.
Also, the market regulator sought more information from other regulators and foreign jurisdictions to plan a further course of action.
In its filing, Sebi said: “It has completed the investigation / examination based on the material that could be gathered by it thus far. An interim report has been prepared and approved by the competent authority in accordance with Sebi's extant practice and procedures. However, it has sought information from agencies and regulators in foreign jurisdictions, etc. and upon receipt of such information, will evaluate the same to determine further course of action, if any.”
Further, Sebi has examined whether the Adani group manipulated the share prices of its group companies by manipulating the minimum public shareholding (MPS) norms, and whether it failed to reveal related-party transactions.