Supreme Court says there’s no reason to suspect the SEBI probe and it won’t interfere in the Adani-Hindenburg order.

Adani-Hindenburg verdict: The Supreme Court ruled that SEBI had not been indolent in its investigation and declined to move the case from SEBI to SIT.The Adani Group was greatly relieved when the Supreme Court ruled on Wednesday that it could not interfere with the regulatory framework or use the Hindenburg report or anything like as justification for launching a new investigation. The SEI will proceed with its investigation in accordance with the law. The top court said that there was insufficient evidence to suggest that SeBI moved slowly to take action.

On up to four petitions, a bench made up of Chief Justice DY Chandrachud, Justices JB Pardiwala and Manoj Misra rendered decisions. Lawyers Vishal Tiwari, ML Sharma, Congressman Jaya Thakur, and Anamika Jaiswal submitted the petitions.

The court stated in reading the decision that the supreme court’s authority to review the SEBI regulatory framework is constrained. No good reason was given for SEBI to reverse the modifications it made to the FPI and LODR laws. Twenty out of twenty-two matters have been concluded by SEBI. The order stated that it will wrap up the probe in the remaining two cases in three months.