Adani-Hindenburg Row: Expert Panel Submits Report To Supreme Court

A six-member panel formed by the Supreme Court in March in the Adani-Hindenburg row has now filed the report in a sealed cover to the apex court on May 8. It has been listed for hearing before CJI DY Chandrachud on May 12, as per a report published in the The Economic Times.

It is yet to become clear whether the expert panel has demanded any extension or filed the final report.

Earlier, one of the PIL petitioners has moved the Supreme Court opposing SEBI's plea seeking a six-month extension to complete the probe into allegations of stock price manipulation by the Adani group and lapses in regulatory disclosure, saying the market regulator has already got sufficient time to inspect, examine, collect and seize relevant documents, according to a PTI report.

The Securities and Exchange Board of India (SEBI) recently moved an application in the top court seeking six more months for ascertaining possible violations related to misrepresentation of financials, circumvention of regulations and/or fraudulent nature of transactions, and completing the exercise, added the PTI report.

The top court had on March 2 asked SEBI to probe the matter within two months and also set up a panel to look into the protection of Indian investors after a damning report by a US short seller wiped out more than USD 140 billion of the conglomerate's market value.