NEW DELHI: The Supreme Court on Friday adjourned to May 15 the hearing of a SEBI plea seeking six months’ extension to complete a probe into the allegation made against the Adani Group in the Hindenburg short seller report.
“Let there be some alacrity, in completing the investigation. SEBI cannot take indefinitely long period,” the Supreme Court said while it proposed to grant market regulator SEBI three more months to completing the probe in the Adani-Hindenburg saga.
A bench of CJI DY Chandrachud, Justices PS Narasimha & JB Pardiwala said that the court would pass orders on SEBIs application seeking extension of time for completing the probe on Monday after perusing the findings of the report of court-appointed Expert Committee headed by Justice AM Sapre.
“To now extend six months time may not be appropriate and we will extend the time for 3 months because they have a point in saying that SEBI was already investigating. We’ll place the matter around August 14,” CJI said.
The CJI during the hearing also rapped a counsel appearing for petitioner Jaya Thakur of Congress who said that the court had said nothing with regards to regulatory failure on part of market regulator.
In an attempt to convince the bench to extend the time, SG Tushar Mehta for SEBI said, “We have narrated the facts & it requires us 6 months more. Things which are yet to be done.”