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Govt to get SEBI’s Adani probe report tomorrow

The market regulator is probing Adani Group’s now withdrawn share sale and market rout following accusation of fraud, stock manipulation

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CPI activists hold placards as they shout slogans against the central government, during a protest, calling for an enquiry into allegations of major accounting fraud at Adani, in Mumbai on Monday. Pic/AFP

CPI activists hold placards as they shout slogans against the central government, during a protest, calling for an enquiry into allegations of major accounting fraud at Adani, in Mumbai on Monday. Pic/AFP

Market regulator SEBI is set to brief the federal government on its investigation into Adani Group’s shelved share sale, two sources said, thrusting the watchdog into the limelight in a week when its laws also face scrutiny by the top court.

The Securities and Exchange Board of India (SEBI) has been probing the group’s market rout, including examining trade patterns and any potential irregularities in the $2.5 billion share sale of Adani Enterprises that Adani Group was forced to cancel due to the stock’s plunge.

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