One of the PIL petitioners has moved the Supreme Court opposing SEBI’s plea seeking a six-month extension to complete the probe into allegations of stock price manipulation by the Adani Group and lapses in regulatory disclosure, saying the market regulator has already got sufficient time to inspect, examine, collect and seize relevant documents.
The Securities and Exchange Board of India (SEBI) recently moved an application in the top court seeking six more months for ascertaining possible violations related to misrepresentation of financials, circumvention of regulations and/or fraudulent nature of transactions, and completing the exercise.
