SEBI has sought six months more time to probe the Hindenburg-Adani case

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- Sebi Supreme Court plea, likely to be heard in May

- Suspicion of multiple breaches of regulations including financial misrepresentation and fraudulent transactions by the Adani Group

New Delhi: Markets regulator Sebi has sought six more months from the Supreme Court to complete its probe into allegations by American short-selling research firm Hindenburg that the Adani group was 'manipulating share prices' and 'manipulating accounts'.

In an application before the Supreme Court, Sebi has said that since the investigation in this case is very complex, it needs more time to investigate all aspects. In its petition before the Supreme Court, Sebi said there are 12 suspected transactions for possible violations related to misrepresentation of financial matters and fraudulent transactions. SEBI's plea is likely to be heard in the first week of May.

Sebi said in the petition that as per its preliminary findings, there are suspicions of misrepresentation of financial matters, fraudulent transactions, disclosure rules, corporate governance rules, minimum public shareholding rules and share price manipulation by the Adani group.

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