Sebi likely to seek more time from Supreme Court in Adani Group case

Deadline to submit status report is May 2

The Securities and Exchange Board of India (Sebi) may file an extension plea before the Supreme Court in order to obtain more time to complete its probe into Hindenburg allegations against the Adani group, said two people in the know.

The deadline to submit the status report to the Supreme Court is May 2. The court, in its March 3 order, said Sebi shall “expeditiously conclude” the investigation within two months and file a status report.

In the same order, the court constituted a six-member expert panel and mandated it to investigate regulatory failure and suggest measures to strengthen investor awareness and