Adani-Hindenburg row: Won't comment on subjudice matters, says Sebi Chairperson Madhabi Puri Buch

Sebi Chairperson Madhabi Puri Buch on Wednesday said the market regulator would not comment on Adani Hindenburg Report. Addressing the media, Buch said "Elephant in the room is Adani, we don't comment on subjudice matters."

She noted that the Supreme Court (SC) in its recent order instructed Sebi to give updates.  "That is why we are not allowed to discuss the matter with the public at large."

Buch said the market regulator would follow the advice of the Supreme Court in the Adani case and that the regulator was duty bound to follow it.

To recall, the SC had earlier this month asked Sebi to investigate if there were any violations of market norms and stock manipulation in the Adani group. It asked the market regulator to submit a report within two months. The Supreme Court bench led by Chief Justice of India DY Chandrachud also added that Sebi must investigate various other aspects of the case.

The six-member expert committee formed was to be headed by former Justice AM Sapre.

SC had asked Sebi to submit a report of the ongoing investigation to the Supreme Court appointed expert committee. This committee comprises of Justice KP Devdatt, KV Kamat, Nandan Nilekani, Somasekhar Sundaresan, and OP Bhatt. This report will be submitted to the Supreme Court-appointed panel in a sealed cover.