Supreme Court gives market regulator 3 months to complete Adani probe

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NEW DELHI: The Supreme Court on Wednesday granted the SEBI an additional time till August 14 to complete its probe into possible lapses regulatory disclosures by Adani group.

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The Supreme Court asked the SEBI to file updated status report on probe into allegations of stock price manipulation by Gautam Adani-led group. The apex court

granted the SEBI time till August 14 to complete probe into allegations of stock price manipulation by Gautam Adani-led group.

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The SEBI had on July 25 told the apex court that it needed more time to probe the matter. The court had earlier asked the regulator to submit its report by July 31. The case pertains to a complaint filed by the Centre against Adani group’s Rs 16,000-crore coal mine project in Ratna in Chhattisgarh. The Centre has alleged that the group made fraudulent disclosures in its filings with the SEBI in connection with the project.