Adani row: SC defers hearing to mid-August

New Delhi, July 11

The Supreme Court on Tuesday deferred the hearing on petition on the Adani-Hindenburg row and asked market regulator SEBI to circulate its response to the recommendations of the court-appointed expert committee to the parties.

A three-judge Bench led by Chief Justice of India DY Chandrachud – which sought to know about the status of investigation – deferred the hearing to mid-August after the conclusion of Constitution Bench hearings.

On behalf of SEBI, Solicitor General Tushar Mehta said the court had in May granted SEBI time till August 14 to complete its probe into the allegations of stock price manipulation by the Adani Group and the investigation was on.

The Adani Group has dismissed the charges, saying it has been complying with all laws and disclosure requirements.

Mehta said SEBI on Monday filed a “constructive response” to the suggestions made by the expert committee. “It has nothing to do with the allegations,” he added.

Maintaining that it has not received the SEBI’s response, the Bench said it would be appropriate if it’s circulated along with other papers connected with the case.

SEBI had on Monday told the apex court there was no “sky-rocketing” of securities violations as mentioned by the court-appointed expert committee that looked into Hindenburg Research report.