Sebi shares investigation update with Supreme Court

[ad_1]


BENGALURU (Reuters) – India’s market regulator has completed its probe into whether billionaire Gautam Adani’s conglomerate violated securities laws and action has been recommended in some cases for passing orders, it said in a filing to the country’s Supreme Court on Friday.


The Securities and Exchange Board of India (SEBI) said it has investigated 24 transactions involving the Adani group’s listed companies of which 22 are final in nature.


SEBI “shall take appropriate action based on outcome of the investigations,” it said.


The group’s listed companies lost more than $100 billion in market value earlier this year after U.S.-based Hindenburg Research raised several governance concerns. The group has denied wrongdoing.


Following this, the Supreme Court asked SEBI to look into the allegations and submit its findings to a six-member panel formed in March, which included a retired judge and veteran bankers.


The court appointed panel said in May that the regulator had so far drawn a blank in its investigations and its ongoing pursuit of the case is a “journey without a destination” but gave the regulator more time to complete its probe.


 


(Reporting by Chris Thomas and NR Sethuraman in Bengaluru; Editing by Savio D’Souza)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Aug 25 2023 | 5:30 PM IST

[ad_2]

Source link

slot gacor slot gacor togel macau slot hoki bandar togel slot dana slot mahjong link slot link slot777 slot gampang maxwin slot hoki slot mahjong slot maxwin slot mpo slot777 slot toto slot toto situs toto toto slot situs toto situs toto situs toto situs toto slot88 toto slot slot gacor thailand slot bet receh situs toto situs toto slot toto slot situs toto situs toto situs toto situs togel macau toto slot slot demo slot pulsa slot pragmatic situs toto deposit dana 10k surga slot toto slot link situs toto situs toto slot situs toto situs toto slot777 slot gacor situs toto slot slot pulsa 10k toto togel situs toto slot situs toto slot gacor terpercaya slot dana slot gacor pay4d agen sbobet kedai168 kedai168 deposit pulsa situs toto slot pulsa situs toto slot pulsa situs toto situs toto situs toto slot dana toto slot situs toto slot pulsa toto slot situs toto slot pulsa situs toto situs toto situs toto