Adani-Hindenburg Probe: SC says may grant SEBI some extension; next hearing on May 15

New Delhi: The Supreme Court on Friday said it may give SEBI a three-month extension to probe into allegations of stock price manipulation by the Adani Group and lapses in regulatory discourse. SEBI had sought a six-month extension into the same.

The next hearing is fixed for May 15 for consideration of SEBI's plea seeking an extension of time.

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The top court had on March 2 asked SEBI to probe within two months these allegations and had also set up a panel to look at providing protection to Indian investors after a damning report by US short-seller Hindenburg wiped out more than $140 billion of the Indian conglomerate's market value.

In an application moved before the court, SEBI had earlier requested six more months for ascertaining possible violations related to "misrepresentation of financials, circumvention of regulations and/or fraudulent nature of transactions". (with Agency inputs)

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