SC backs Sebi inquiry into Adani, rejects any other

New Delhi: The Supreme Court on Wednesday refused to order inquiries into Adani Group by a special investigation team (SIT) or the Central Bureau of Investigation (CBI) – a major relief to the business house – over US short-seller Hindenburg Research’s allegations of fraud, misgovernance and stock price manipulation.

It said the Securities and Exchange Board of India (Sebi) was conducting a “comprehensive investigation” that “inspires confidence.”