SC directs Sebi to probe Adani; group stocks hold gains amid heavy volumes

Adani Enterprises, the Group flagship company, saw around 38.96 million equity shares (3.4 per cent of total equity) worth of around Rs 5,487 crore change hands on the BSE this morning.

The Supreme Court (SC) on Thursday has directed the market regulator SEBI to carry out a detailed probe and submit its findings in two months.

The apex court has constituted a expert committee for the probe, which shall be headed by retired judge Justice Sapre. The other committee members are  OP Bhatt, KV Kamath, Nandan Nilekani, Somsekhar Sundaresan.

As per the SC order, SEBI has asked to probe if there are violations of the Securities Act. Sebi must also probe if whether there is violation of norms on manipulation of share pricesm and a failure to disclose related party