Hindenburg row: SC may give SEBI 3 months more for probe

Noting that there needed to be some “alacrity”, the Supreme Court on Friday said it could grant three additional months — and not six — to SEBI to probe into the allegations by Hindenburg Research of stock price manipulation by the Adani Group and any possible lapses in regulatory disclosures.

“We cannot grant six months now. There needs to be some alacrity in the work. Put together a team. We can list the case in mid-August and have the report then… Six months cannot be given as a minimum time. SEBI cannot take an indefinitely long period. We will give it three months,” a three-judge Bench led by CJI DY Chandrachud told Solicitor General Tushar Mehta, who represented SEBI.