New Delhi, Apr 29 (PTI) Market regulator SEBI has moved the Supreme Court seeking a six-month extension to complete its probe into the allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures.
The top court had on March 2 asked SEBI to probe the matter within two months and also set up a panel to look into the protection of Indian investors after a damning report by a US short seller wiped out more than USD 140 billion of the conglomerate's market value.
In an application moved before the court, SEBI submitted that for ascertaining possible violations related to misrepresentation of financials, circumvention of regulations and/or fraudulent nature of transactions, it would take six more months to complete the exercise.
