SEBI files status report in Adani-Hindenburg case, two probes still awaited

Markets regulator Securities and Exchange Board of India (SEBI) on Friday has informed the Supreme Court through an affidavit that out of its 24 investigations in the Adani-Hindenburg row, 22 are final in nature and 2 are interim.

According to the statement by SEBI, the market regulator is now awaiting report from external agencies on two probes.

As per details disclosed by the board, the interim probes covered 13 overseas entities of Adani’s companies and in addition to this, they have sought details from five countries on FPIs.

In listed firms, FPIs are a part of the non-promoters/public shareholders group. Listed firms are required by Sebi to maintain an MPS of at least 25%.

It is to be noted here that the matter was listed for hearing in the case on August 29. SC on August 14, extended the deadline and asked SEBI to conclude it probe and submit the report, wherein SEBI again sought a 15-day extension till August 29. The SC while concluding said that investigate and submit the status report in its probe into Hindenburg report against Adani group.

According to a report released by Hindenburg on January 24, which erased billions of dollars from the market capitalization of the listed firms of the Adani Group, was mostly driven by allegations relating to related-party transactions and MPS standards.