SEBI Gets Extra Three Months To Probe Hindenburg Case
The capital markets regulator SEBI has been given three extra months by the Supreme Court to wrap up its investigation into the Hindenburg case. The Supreme Court rejected the Securities and Exchange Board of India's (SEBI) request for an additional six months today.
As asked by SEBI's attorney Tushar Mehta at the hearing today, Chief Justice of India DY Chandrachud ordered the regulator to produce a status report on its probe by August 14 before the court decides whether to grant the body extra time.
"We're not extending things to you indefinitely. Please let us know if there are any problems. We might have given you until September 30, but please let us know where the investigation is in the process. Give us a status update on the probe," said Chief Justice Chandrachud.
It will be heard again on July 11.
On March 2, the Supreme Court ordered SEBI to look into any irregularities that occurred before and after the Hindenburg report on the Adani Group within two months. Three days before SEBI's deadline, on April 29, the regulator requested an additional six months. The issue includes cross-border countries, according to SEBI's attorney, and will require time to process.
