India's market regulator has asked for a six-month extension to complete its probe into possible lapses in securities market laws and regulatory disclosures by billionaire Gautam Adani's Adani group, according to a court document seen by Reuters.
The Securities and Exchange Board of India filed its request with the Supreme Court on Saturday, citing complex transactions involving the conglomerate's listed, unlisted and offshore entities that require deeper investigations."We are fully co-operating with SEBI and will continue to provide all our support and co-operation," it added.The Supreme Court asked the regulator to conduct an inquiry into Adani after U.S.
The group, whose main business is infrastructure, has said Hindenburg's report was baseless and called its allegations "unsubstantiated speculations."In its application, the regulator said it needed more time "to conduct a proper investigation and arrive at verified findings." It is investigating alleged breach of related party transaction rules, public shareholding norms and share price manipulation.
Related party transaction rules lay down practices to be followed when two connected parties are involved in a transaction, while public shareholding norms set out the minimum shareholding of an exchange-listed company required to be held by the public. SEBI in its application said that further investigations are necessary in cases where preliminary findings point to violations of securities laws.The regulator said that it had received information from several Adani group entities. However, this needs to be independently verified and additional information has been sought from offshore regulators, since some of the transactions under scrutiny involve offshore entities, it said in the court document.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Official says Maoist rebels kill 11 in central India attackMaoist insurgents detonated an explosive device Wednesday in a forested area in central India, killing 10 police officers and the driver of their vehicle, a state government minister said.
اقرأ أكثر »
TikTokers making six-figure incomes via app worried about potential banLawmakers from Canada, the United States, Europe, India, New Zealand and others have already banned the app from government devices.
اقرأ أكثر »
Month-end flows help Canadian dollar rebound from one-month lowLoonie at 73.80 U.S. cents
اقرأ أكثر »
Oral Health Month: Stomach cancer, stroke, problems with pregnancy all linked to poor oral healthIt's OralHealthMonth! Let's talk about how some of the most serious diseases are linked to what's in your mouth, like cancer, kidney disease and diabetes. Find out how to lower your risk.— via healthing_ca CdnDentalAssoc ...
اقرأ أكثر »
Oral Health Month: Stomach cancer, stroke, problems with pregnancy all linked to poor oral healthIt's OralHealthMonth! Let's talk about how some of the most serious diseases are linked to what's in your mouth, like cancer, kidney disease and diabetes. Find out how to lower your risk.— via healthing_ca CdnDentalAssoc ...
اقرأ أكثر »