Supreme Court asks Sebi to check on Adani’s related party transactions
NEW DELHI (Reuters) -India’s top court on Thursday asked the market regulator to investigate any possible lapses in securities law or other regulatory disclosures by the Adani group that has been hard by allegations of business malpractice by a U.S. short seller.
The Supreme Court of India also ordered the formation of an investor-protection panel amid sharp falls in the Adani group’s shares.
Indian markets regulator SEBI has been investigating a critical Jan. 24 report by Hindenburg Research that alleged the Adani group improperly used offshore tax havens and manipulated stocks. The conglomerate has denied doing so.
