India’s Sebi may ask court for more time on Adani probe

SEBI has also sought details on shareholding patterns, disclosures and other information

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The newspaper reports that SEBI has been collecting detailed information over the past two weeks.
The newspaper reports that SEBI has been collecting detailed information over the past two weeks.
REUTERS

Mumbai: India’s capital markets regulator may ask the country’s top court to give it more time to finish its investigation into short-seller Hindenburg Research’s allegations against billionaire Gautam Adani’s conglomerate, the Business Standard reported, citing people it didn’t name.

The Securities and Exchange Board of India was to file a status report to the Supreme Court May 2, according to the report. The regulator didn’t reply to a request for comment, it said.

New York-based Hindenburg in January accused the Indian conglomerate Adani Group of using a web of companies in tax havens to inflate revenue and stock prices, even as debt piled up. The group has repeatedly denied allegations.

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