The expert panel set up by the Supreme Court in the Adani-Hindenburg case refused to conclude in its report that there was a regulatory failure on part of SEBI.
Hindenburg Research had accused Adani Group of stock manipulation.
According to an Economic Times report, the committee, in its report, said that SEBI is currently investigating 13 transactions where it is trying to probe the underlying transactions to see if they were fraudulent in nature.
The committee also observed that while SEBI is obtaining data regarding the transactions, the investigation needs to be completed in a time-bound manner.
Regarding regulatory failure on SEBI’s part, the panel noted in its report that it won’t be possible to conclude findings on the issue in context of regulations prevailing at the time when the transactions were made.
Notably, Supreme Court granted SEBI an extension of three months to submit its findings on the Adani-Hindenberg row.
