India’s market regulator told the Supreme Court on Monday that any incorrect or premature conclusion of its investigation into the Adani group’s possible lapses of regulatory disclosures will be “legally untenable” and not “serve the ends of justice”.
The Securities and Exchange Board of India (SEBI), in a filing, said it has approached 11 overseas regulators for information relating to whether the Adani group has violated any norms regarding its publicly available shares.
The first such request, the SEBI said, was made as early as Oct. 6, 2020.
