Adani-Hindenburg Case Verdict: Supreme Court gives SEBI 3 months to complete probe, says no questions about regulators functioning
Adani-Hindenburg Case Verdict: The top court said that the allegations against the group have already been rejected by itself and the Customs, Excise & Services Tax Appellate Tribunal (CESTAT).
Adani-Hindenburg Case Verdict: The Supreme Court on Wednesday allowed capital market regulator SEBI to continue investigating the Adani-Hindenburg matter while stating that there are no questions about the functioning of the regulator. The apex court also said that the matter will not be referred to a Special Investigation Team (SIT). All of the Adani group stocks were in the green minutes after the development.
The top court said that the expert group did not find any discrepancies in the probe conducted by SEBI. The bench, headed by Chief Justice DY Chandrachud, also said that it cannot regulate SEBI's power of investigation, stating that the court has limited power to enter the regulatory domain of the agency.
It also said that the allegations against the group have already been rejected by itself and the Customs, Excise & Services Tax Appellate Tribunal (CESTAT).
The court was delivering its verdict on a batch of petitions on the Adani-Hindenburg row over allegations of stock price manipulation by the corporate giant.
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