Adani Group Case: SEBI had demanded an extension of six months for the investigation. The latest update on the whole matter has come that the expert committee of the Supreme Court said that there is no need to give more powers to SEBI. The apex court also said that the enforcement policy of SEBI needs to be further improved.
Adani-Hindenburg Case: Hearing was once again held in the Supreme Court regarding the Adani-Hindenburg case. In this matter, the Supreme Court has already given time till August 14 for investigation after hearing the side of SEBI. Earlier, SEBI had demanded an extension of six months for the investigation. The latest update on the whole matter has come that the expert committee of the Supreme Court said that there is no need to give more powers to SEBI. The top court also said that the enforcement policy of SEBI needs to be further improved.
Suspicious trading cases were seen
The Supreme Court committee also said that before the Hindenburg report, there were cases of suspicious trading in the group company. Let us tell you that after the Hindenburg report on Adani Group came out on January 24, there was a rapid decline in the shares of the companies associated with the group. At that time the investors who had taken shares of Adani Group had suffered a big loss. After this, the expert committee of the Supreme Court was formed under the chairmanship of AM Sapre.
SEBI had asked for six months time for the investigation
In this case, during the hearing in the Supreme Court on May 15, SEBI had demanded six more months for the investigation. But while hearing on this on May 17, the court had extended the SEBI investigation time by three months. The next hearing in the Adani-Hindenburg case is now to be held on July 11. The hearing of the case is being done by the bench of Chief Justice Chandrachud, Justice Narasimha and Justice Pardiwala.
Let us tell you that in this whole matter, on March 2, the apex court had directed SEBI to investigate any violation of securities law by the Adani Group in the Hindenburg report. In an affidavit filed in the court on May 14, SEBI said that the allegation that SEBI is probing Adani’s companies since 2016 is baseless. SEBI made it clear that after 2016, no company of the group was investigated.
