Adani Hindenburg Case | Adani group said this on the application filed by SEBI in the Supreme Court, know

File photo New Delhi: Billionaire industrialist Gautam Adani-led Adani Group has said that no wrongdoing has been found in the application filed by Sebi in the Supreme Court. Capital market regulator Securities and Exchange Board of India (SEBI) has sought six more months from the court to complete the probe into the allegations against Adani. American short seller Hindenburg, in its report, accused the Adani group of rigging the share price and lapses in regulatory disclosures. The group has termed all these allegations as baseless. In an application filed before the court, SEBI said, “It will take six more months to complete the proceedings to detect possible violations related to financial misrepresentation, fraud of regulations and/or fraudulent transactions.” SEBI was supposed to file a status report in this regard on May 2, but on Saturday it filed an application seeking more time. Sebi, in its application filed on Saturday, said that it has to “re-verify the analysis and reach a final conclusion” in these cases where “prima facie violations have been found” and where “prima facie violations” have not been found. For “for” six months more time is required. Also read Sebi in its application said examination of 12 suspicious transactions revealed that these are ‘complex and have multiple sub-transactions and for a rigorous examination of these transactions detailed analysis including verification as well as various There will be a need to collate data from sources.” “It is pertinent to note that there is no finding of any alleged irregularities in the SEBI application filed before the Supreme Court,” Adani Group said in a statement. The delay in the SEBI probe was viewed with suspicion in some quarters. Trinamool MP Mahua Moitra and Shiv Sena leader Priyanka Chaturvedi have also raised questions on SEBI by tweeting. (agency)

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