SC grants SEBI time till Aug 14 to complete probe against Adani group

The Securities and Exchange Board of India (SEBI) has been given time till August 14 by the Supreme Court on Wednesday (May 17), to complete its probe into the allegations of stock price manipulation by the Adani group.

A bench headed by Chief Justice D Y Chandrachud directed the SEBI to file an updated status report of the investigation.

The bench, which also comprised Justices PS Narasimha and JB Pardiwala, has also ordered that the report of the Justice A M Sapre committee, which was submitted to it, be made available to the parties to enable them to assist the court in the matter.

Also read: Adani-Hindenburg row: SC may grant 3 more months to SEBI for probe

The apex court had on March 2 ordered the formation of a six-member committee to probe allegations of stock manipulation against Adani Group by US short-seller Hindenberg.

The Supreme Court listed the matter for further hearing on July 11.

Also read: Giving 6 more months to SEBI to complete Adani probe may create perception of burying issue: Cong

(With agency inputs)