Buying time
The “reluctance” of the Securities and Exchange Board of India to investigate the goings-on in the Adani Group of companies is evident in the manner in which SEBI has asked for an extension in order to complete the investigation (Page 1, May 18). This only creates the perception that had the higher judiciary not stepped in, there would not have been any investigation. The ‘excuse’ of the ‘complexity of the case’ does not convince anybody. Ideally, SEBI should have started the investigation as soon as the Hindenburg report was put out. Unless the higher judiciary cracks the whip, this investigation could fizzle out.
Anthony Henriques,
