SEBI on Sunday said it has completed all but one investigation into allegations against the Adani group as it responded to US short-seller Hindenburg Research's charge of going slow on the probe, potentially because its chairperson was invested in funds at the heart of the probe - an allegation market regulator head said was "baseless" and an attempted "character assassination".
The allegations ranging from using offshore investment funds to inflate stock price and non-disclosure of related party interest that Hindenburg first levied in its damning report against the Adani group in January 2023, have been "duly investigated by SEBI", the regulator said in a statement.
SEBI said two of the 24 investigations against Adani group were pending when the Supreme Court last passed an order on the issue in January this year. Subsequent to that, one investigation was completed and the one remaining is close to completion.
Copyright © 2017 Indian Grapevine a unit of Integrated Media Enterprises
