The capital market regulator Securities and Exchange Board of India (Sebi) has received an extension of time till August 14th to complete its investigation into the Adani-Hindenburg row. 

The Supreme Court has also ordered that copies of the report prepared by the Justice Sapre panel be provided to the parties in the interim so that they can participate in future discussions. The next hearing will take place in July.

On May 15, the regulator notified the Supreme Court that it had not publicly investigated any of the on stock exchange-listed Adani Group firms since 2016 over the alleged use of GDRs for illegal purposes or any other infractions. 

In order to ensure justice, it asked for an extra six months to finish its probe into the Adani-Hindenburg incident. The regulator denied the assertion that since 2016, specific Adani Group entities have been investigated for possible legal violations.

Sebi's assertion, however, was at odds with what junior finance minister Pankaj Chaudhary had said in parliament in July 2021, when he claimed that SEBI was looking into particular Adani group companies for breaking rules. 
The finance ministry, on the other hand, said that the government stood by its written response in Lok Sabha, which was based on a thorough investigation and input from all pertinent agencies

Gautam Adani, then Asia's wealthiest person, underwent a major decline in his net worth within a single day. This decline was triggered by a sharp fall in the bonds and stocks of the seven publicly listed Adani group companies, which witnessed declines ranging from 3% to 7%. 

The negative trend started after Hindenburg Research published a report stating that the Adani Group had engaged in an outrageous stock manipulation and accounting fraud scheme over a long period of time.

SEBI issues a warning over hasty conclusion of the Adani probe

Adani Transmission seeks shareholders' approval to raise up to Rs.8,500 cr

Adani eyes to raise USD 2-2.5 bn in 1st share sale since Hindenburg report