New Delhi: The Supreme Court on Tuesday allowed the Securities Exchange Board of India (SEBI) to continue the Adani-Hindenburg case till August 14.
The Chief Justice’s bench inquired about the status of the investigation from advocate Tushar Mehta, appearing for SEBI, to which he said, “The investigation is going on as full speed as possible.”
Prashant Bhushan appeared for the petitioner and said that SEBI has said that they have amended the rules on related party transactions and reporting.
Chief Justice DY Chandrachud said, “He (Bhushan) is saying that you are saying that till date you were prevented from investigating the beneficial owners and related party transactions. We would like to know what circumstances led to the change in rules on the definition of ‘opaque structures’, ‘beneficial ownership’.
SEBI on Monday filed a 41-page affidavit in the apex court along with the recommendations of the Supreme Court-appointed expert committee.
Simultaneously, the apex court asked the government to provide a soft copy of SEBI’s affidavit to the petitioners and also submit the same to the court to ensure that it is uploaded on record.
Without mentioning the status report of its probe into allegations against the Adani group, Sebi in its latest affidavit in the apex court said it does not agree with the expert committee’s probe into difficulties in tracing economic interest holders behind an offshore fund .