Adani-Hindenburg: SC lets SEBI probe till August 14
Adani group to acquire new company
New Delhi: The Supreme Court on Tuesday granted the Securities Exchange Board of India (SEBI) to continue the Adani-Hindenburg case till August 14.
Chief Justice bench enquired about the state of investigation from solicitor Tushar Mehta, appearing for SEBI to which he said, "The investigation is going on, with full speed as much as possible."
From the petitioner's side, Prashant Bhushan appeared and said SEBI has said they have amended the rules for related party transactions and reporting.
Chief Justice DY Chandrachud said, "He's (Bhushan) saying that you're saying that as of today you were prevented from investigation into beneficial owners and related party transactions. We'd like to know what circumstances led to changes on regulations on 'opaque structures', 'beneficial ownership' definition."
SEBI on Monday submitted a 41-page affidavit at the apex court along with recommendations from an SC-appointed expert committee.
Along with this, the apex court asked the government to provide a soft copy of the SEBI affidavit to the petitioners and also submit it to the court to make sure that it is uploaded on record.
Without mentioning the status report of its own investigation into allegations against the Adani Group, SEBI in its latest affidavit to the apex court said it did not agree with the expert committee scrutiny of difficulties in finding out holders of economic interest behind an offshore fund.
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