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The Securities and Exchange Board of India has sought a 15-day extension from the Supreme Court to complete the probe into the allegations made by short-seller Hindenburg Research against the Adani Group.
The markets regulator said in its submission that it has progressed substantially in the investigations and “keeping in view the ongoing work,” it requested the court for an extension in time “in order to conclude the process and file a status report” on it.
The court had granted SEBI time till August 14 to complete the investigation and submit the report. The next hearing on the matter is on August 29.
In its submissions on Monday, SEBI said it had examined and investigated 24 matters, of which 17 were final and complete, and approved by the competent authority.
In one of the matters, it has completed investigations based on the material it could gather, and an interim report had been prepared and approved. It said SEBI had sought information from agencies and regulators in foreign jurisdictions and on receipt of that information, would evaluate it to determine the further course of action.
Of the remaining six matters, findings had been crystallised in four investigations, and the reports prepared were in the process of approval. It expected to complete the approval process in those matters shortly, before the next hearing date.
In the remaining two matters, investigations were at an advanced stage in one of them, and in the other, an interim report is under preparation, it said.
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