Indian Regulator Seeks Two More Weeks to Wrap Up Adani Probe
- Supreme Court panel in May said Sebi probe had ‘drawn a blank’
- Sebi added some foreign funding rules after Hindenburg report
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India’s capital markets watchdog has sought yet another 15 days to finish up the almost three-year-long investigation into Gautam Adani’s eponymous conglomerate, after the three-month extension already granted by the nation’s Supreme Court ended on Monday.
The Securities and Exchange Board of India told the Supreme Court that it needs the additional time to wrap up work on seven out of the 24 matters it has been asked to investigate in the wake of the scathing attack by shortseller Hindenburg Research that accused the Adani Group of wide-ranging corporate malfeasance.