There is opposition to SEBI seeking 6 months extension from the Supreme Court.Image Credit source: File Photo
The difficulties of industrialist Gautam Adani do not seem to be getting any easier. After the report of Hindenburg Research came out, on the behest of the Supreme Court, SEBI had started investigation regarding Adani Group, which was to be completed in two months. But SEBI has asked the Supreme Court for an extra time of 6 months for investigation. It is now being widely opposed, and a petition has been filed against it in the Supreme Court.
The question has been raised in this that why extra time should be given for investigation against Adani Group? If this is done then this investigation against Adani group will be prolonged. There can be further delay in this and people will not get the benefit of the investigation.
Evidence can be tampered with
Filed in protest against SEBI’s demand for 6 months extension, it has been said that by giving extra time, the company can tamper with important figures and facts. related to this tampering with evidence Might be possible.
This petition was filed by advocate Vishal Tiwari, Chief Justice of the country D.Y. filed before a bench headed by Chandrachud. After hearing the PIL filed by Vishal Tiwari, the Supreme Court had asked SEBI to investigate the Adani-Hindenburg case. On March 2, the apex court had asked SEBI to complete the probe within two months.
SEBI asked for 6 months extension
Market regulator Securities and Exchange Board of India (SEBI) had recently asked the Supreme Court for an extension of 6 months for its ongoing investigation into the fluctuations in the share price of Adani Group. After the report of Hindenburg Research, there was a huge fall in the shares of Adani Group companies.
In this case, Vishal Tiwari had filed a petition in the Supreme Court to protect the interests of the shareholders, on which SEBI was ordered to investigate.
The report of Hindenburg Research came in January. After this, a huge decline was registered in the share price of Adani group companies. American short seller company Hindenburg Research had accused Adani Group of exaggerating share prices and committing accounting fraud.
Vishal Tiwari has said in his application that to investigate the matter Sebi’s extension of 6 months is not acceptable can be done. Along with this, he also raised the matter of not giving the details of the officer leading the SEBI investigation in the Supreme Court.