The Indian Supreme Court has given the country's Securities and Exchange Board until August 14 to provide an update on its investigation into allegations made in the Hindenburg Research report against the Adani Group of companies. The US-based research firm accused the conglomerate of inflating the value of its ports, making false claims of ownership, evading taxes, and improperly benefiting from government subsidies. Adani Group has denied the accusations, and the matter is currently the subject of legal action in India. India's Securities and Exchange Board (SEBI) has granted an additional six months to investigate the dealings of the conglomerate Adani Group. The Bombay High Court ordered the SEBI in June to investigate three firms relating to Adani based on a complaint filed by a whistleblower. Adani has denied any wrongdoing.
Supreme Court claimed SEBI for providing a status report on the probe by August 14
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