The Indian capital markets regulator SEBI informed the Supreme Court on Monday that it has not looked into any Adani Group entities since 2016 and that the previous claim was inaccurate.
SEBI has also asked for some more time to finish the probe in the Hindenburg report case to ensure there are no loopholes and justice is delivered.
SEBI maintained that it needs more time to complete its inquiry in its response on Monday. The top court had stated on Friday that it was unable to grant the market regulator's request for a six-month delay to finish its investigation.
SEBI told the court that the transactions mentioned by Hindenburg as breaking Indian law are extremely complicated and involve several sub-transactions in various countries.
In order to determine whether the Adani group had broken any rules involving its publicly traded shares, the market regulator informed the Supreme Court of India that it had previously contacted eleven foreign regulators.