Breaking News: On 24th November 2023, Friday, the SEBI officially informed the Supreme Court that it doesn’t require any extension to final the inquiry into the allegations which are against the Adani Group. This is one of the biggest breaking news. Now the Securities and Exchange Board of India is not going to seek an extension to complete the probe into the Gautam Adani Group. Tushar Mehta, the solicitor general has said that the SEBI probe is completely related to the Hindenburg report as right now it is near its completion with 22 of 24 cases that have been officially concluded. read this entire article to learn every single thing.
The Securities and Exchange Board of India has recently claimed Supreme Court that they do not need any extension to finalize the official inquiry into the allegations against the Adani group. It has been claimed that the ongoing development is going to follow the early plea which is for the contempt as it is proceedings against the markets regulator. It has alleged the failure so that it can start the investigation with the stipulated deadline which is given by the Supreme Court. Supreme Court has asked SEBi to give the reports which are findings by 14th August 2023 and it is following the public interest litigation (PIL) and also citing the concerns in the alleged allegations against the Adani Group in the stock manipulation. This has been reported by the Organized Crime and Corruption Reporting Project.
According to the reports, currently, the Adani group is just denying the allegations that were brought in January by Hindenburg Research. Many people do not know what is Adani-Hindenburg row. In January 2023, Hindenburg Research which is a United States short-selling company released an official report in which they alleged that the Adani Group had officially engaged in the manipulation of stock and also in several other fraudulent activities to boost the prices of stock. Continue reading this article in the next paragraph of this article.
The business giant Adani Group claimed that the allegation is baseless and the group has also dismissed the report as the efforts which are made by foreign entities which are damaging the reputation of India. The reports which were released by the Adani Group have triggered a big controversy in the political world. There is a question that has been raised about the association between Narendra Modi and Gautam Adani. More details are to be shared very soon so keep following techballad.