The Securities and Exchange Board of India (SEBI) has denied allegations that it has been investigating the Adani Group since 2016. SEBI cautioned that any incorrect or premature conclusion of the case would not serve justice and would be legally untenable. SEBI has already approached 11 overseas regulators under the Multilateral Memorandum of Understanding with the International Organisation of Securities Commissions regarding the investigation into Minimum Public Shareholding norms. The Supreme Court may grant three more months to SEBI to complete its probe into the controversy surrounding the Hindenburg Research report on the Adani Group. The court is not keen on accepting SEBI’s request for a six-month extension.
