The Supreme Court on Friday said it will use the weekend to pore over the report submitted by an expert committee led by former of apex court judge, Justice Abhay Manohar Sapre, on Hindenburg Foundation’s allegations of manipulation of share prices and fraud against the Adani group before taking a call on a request by Securities and Exchange Board to grant it a “minimum” of six months to complete its investigation.
“We have received Justice Sapre’s report in the Registry. We did not have the time to read it. We will read it during the weekend and list your [SEBI] application for Monday,” a three-judge Bench headed by Chief Justice of India D.Y. Chandrachud addressed Solicitor General Tushar Mehta and advocate Pratap Venugopal, representing the market regulator.
But the Bench, also comprising Justices P.S. Narasimha and J.B. Pardiwala, clearly indicated its disagreement with SEBI’s request for a six-month extension of time to complete its probe.
