Nearly a year after American short-seller Hindenburg Research attacked him with allegations of stock manipulation, the fate of Gautam Adani, the billionaire who leads ports-to-power Adani Group, still hangs in balance. The Supreme Court today directed the Securities and Exchange Board of India (Sebi) to complete its probe into the remaining two cases of alleged violations by the Adani companies within three months. However, it decided not to order a probe by a special investigation team or the Central Bureau of Investigation. The court also upheld the validity of the Sebi regulations, which were allegedly used by the Adani group to inflate its stock prices.
