The Securities and Exchange Board of India (SEBI) has asked the Supreme Court for an extension of 15 days to complete its investigation into allegations made by the US-based short-seller firm Hindenburg Research against companies within the Adani Group.
Today, August 14, was the deadline set by the Supreme Court for the submission of the report. In its extension application, SEBI has informed the court that it has made significant progress in its investigation. SEBI said it has prepared an interim report based on available materials.
The regulator added that it has also sought information from agencies and regulatory bodies in foreign jurisdictions. Upon receiving this information, SEBI intends to evaluate it to determine any further course of action.
The independent body had earlier in May asked for six months to complete the investigation. The court had then extended the time till August 14.
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