Adani-Hindenburg Investigation: SEBI Opts Against Extension for Adani Probe

Adani-Hindenburg Investigation: SEBI Opts Against Extension for Adani Probe

Adani-Hindenburg Case Update: India’s premier regulatory body has disclosed that it has pinpointed 24 instances related to the conglomerate. Among these cases, investigations into 22 have been successfully concluded.

On November 19, reports indicated that an application had been filed in the Supreme Court, urging contempt proceedings against the Securities and Exchange Board of India (SEBI). However, on November 24, SEBI informed the Supreme Court that it would not seek an extension to conclude its investigation into the business conglomerate led by billionaire Gautam Adani, as reported by Reuters.

SEBI disclosed that it has identified 24 cases related to the conglomerate, with investigations completed in 22 of them. For the remaining two cases, the regulator is awaiting responses from foreign regulatory authorities.

In response to Chief Justice of India (CJI) Justice Dhananjaya Y. Chandrachud’s query regarding how SEBI safeguards investor wealth, especially in cases involving short selling, SEBI stated its commitment to taking action wherever short selling is involved.

Additionally, SEBI expressed its alignment with the recommendations of the expert committee on enhancing the regulatory framework to protect investors. This indicates the regulator’s willingness to implement measures aimed at strengthening investor protection in the financial markets.

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