SEBI has examined 13 transactions of Adani Group for this purpose. In the investigation of some foreign transactions, 12 foreign portfolio investors who are common shareholders of Adani Group companies have been included. These foreign entities are located in tax-exempt countries. 12 Sebi explains that it is a challenge to protect the interests of foreign investors. SEBI has sought information from five foreign countries on the matter.
SEBI has assured the Supreme Court that appropriate action will be taken based on the inquiry. Earlier, SEBI had asked for 15 days to file a report on the Adani-Hindenburg issue. But within 12 days SEBI submitted the investigation report. The Adani Group had filed four PILs in the Supreme Court seeking an inquiry into the allegations made by Hindenburg against the company.