Ajit Karn
Adani group has now reacts to Sebi requesting that the Supreme Court extend the deadline for the investigation by six months.
In response to the SEBI’s request to the Supreme Court for a 6-month extension to complete its investigation into the Hidenburg allegations leveled against the Adani Group, the conglomerate led by Gautam Adani stated that it is fully cooperating with the investigation and that the application by the Indian market regulator contains no inferences of wrongdoing.
In its research, Hindenburg Research, an American short-seller, accused Adani Group on February 25 of financial violations. As a consequence, the market value of the Adani Group decreased by more than USD 140 billion.
Also read this:231 Indians evacuated from Sudan under Operation Kaveri land in Delhi
The Supreme Court ordered the Securities and Exchange Board of India to investigate the incident within two months and establish a six-person expert team to examine the protection of Indian investors on March 2. Sebi filed a request for a deadline extension on Saturday, citing intricate transactions involving the conglomerate’s listed, unlisted, and offshore entities that require a more thorough investigation.
