SEBI submits report to Supreme Court on Adani Hindenburg issue. This is the biggest case of 2023 that SEBI has been investigating. The report was submitted before the deadline. At the same time, out of 24 investigation matters taken up by SEBI, 22 findings have been submitted. Data from outside agencies is reportedly being collected for discovery in the remaining two probes. Therefore, the investigation is not complete. SEBI has revealed that the investigation in the Adani Hindenburg case is almost at its final stage
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 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.
