
Adani group stocks such as Adani Enterprises Ltd, Adani Green Energy Ltd, Adani Power Ltd, Adani Total Gas Ltd, Adani Wilmar Ltd and Adani Energy Solutions Ltd, will be in focus on Wednesday morning amid a media report that suggested the ED has investigated links of a domestic private lender and 15 other entities, including foreign portfolio investors, whose beneficial ownership is not yet known, in the case relating to short selling of Adani group shares earlier this year.
Sebi is investigating the suspicious short selling positions taken by some entities in the run up to Hindenburg Research report on January 24 that erased $150 billion wealth from Adani group stocks later.
As per the Times of India report, Sebi can register criminal case against any entity, if found involved in any suspicious act that has the potential to undermine fair legal practices.
The Supreme Court on Tuesday postponed the hearing in the Adani-Hindenburg case regarding the status report submitted by capital markets watchdog Securities and Exchange Board of India (Sebi), as the Chief Justice of India-led constitution bench continued hearing pleas challenging the abrogation of Article 370. On August 25, Sebi submitted its status report on the investigation into the allegations made by short-seller Hindenburg Research in its January report against the port-to-energy conglomerate.
The content of the Sebi report has not been made public so far. However various reports said that Sebi's probe document would shed light on the progress of the extensive probe, which encompasses a total of 24 investigations related to various aspects of the Adani conglomerate's activities.
Initially, Sebi was asked to submit its investigation report by August 14. However, the capital markets regulator asked for a 15-day extension and submitted its status report on August 25.
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