After a report submitted by a six-member expert panel, and an extension sought by the Securities and Exchange Board of India, the Adani-Hindenburg fiasco finally saw its day in court.
The Supreme Court observed that the six month extension sought by SEBI is not appropriate, since they already had two months to submit a report.
At the same time the CJI has said that a three-month extension can be considered for the regulator.
SEBI has now been given time till August 15, 2023 to complete its probe and submit a report in the Supreme Court.
It also said that it would be unfair to say there was a regulatory failure, without checking the expert panel’s report.
Following the conclusion of arguments, the apex court has scheduled the case for a hearing on Monday.