Supreme Court grants SEBI time till Aug 14 to complete probe against Adani group

Supreme Court granted the Securities and Exchange Board of India time till August 14 to complete its probe into the allegations of stock price manipulation

New Delhi: The Supreme Court on Wednesday granted the Securities and Exchange Board of India time till August 14 to complete its probe into the allegations of stock price manipulation by the Adani group.

A bench headed by Chief Justice D Y Chandrachud directed the SEBI to file an updated status report of the investigation.

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The bench, also comprising Justices PS Narasimha and JB Pardiwala, also ordered that the report of the Justice A M Sapre committee, which was submitted to it, be made available to the parties to enable them to assist the court in the matter.

The apex court had on March 2 ordered the formation of a six-member committee to probe allegations of stock manipulation against Adani Group by US short-seller Hindenberg.

The Supreme Court listed the matter for further hearing on July 11.