Hindenburg-Adani report: SEBI seeks extension of six months in SC to complete probe

SEBI has asked the Supreme Court to grant an extension of time by six months to complete its probe into Adani group of companies accused of “accounting fraud” and “brazen stock manipulation” as per January 25 report by the US short seller firm Hindenburg.

The market regulator was told by the top court on March 2 to “expeditiously conclude” the investigation within two months and file a status report.

However, in its application, SEBI said, “In order to arrive at verified findings, it would be just, expedient and in the interest of justice” that the court extends time, at least by six months to conduct and conclude a proper investigation, as directed by it on March 2.