Adani-Hindenburg Scandal: SEBI Playing for Time?
The conclusion of SEBI’s investigation and the release of its results to the public may be a crucial turning point in the run-up to the 2024 Lok Sabha elections.
foreign portfolio investors
SC-Appointed Committee Bats for Adani in Hindenburg Case
The Supreme Court-appointed expert committee in the Adani-Hindenburg case advocates for Adani’s exoneration and finds no regulatory failure by SEBI. The SC-appointed committee’s report itself exposes the limitations it faced.
Contradictions and delays cast doubts on regulator’s probe into Adani’s transactions
The investigations by the Securities and Exchange Board of India (SEBI) into transactions by Adani Group entities have been marred by controversy, raising questions about its ability to handle the high-stakes probe with transparency and efficiency. The Supreme Court of India stipulated a deadline of 2 May 2023 for SEBI to conclude its investigation. However, in May, in response to applications by SEBI, the court extended that deadline to 14 August 2023. SEBI’s floundering has brought the regulator under increased scrutiny.
Shares of Adani Group crash after freeze by depository
The prices of shares of six publicly-listed companies in the Adani Group fell off the cliff on Monday after India’s securities depository froze the trading accounts of three Mauritius-based funds that hold stakes worth close to US $6 billion in these Group firms. At their lowest level, the six stocks fell in value by an estimated 17.7 billion Australian dollars.