India’s market regulator has asked for a six-month extension to complete its probe into possible lapses in securities laws or regulatory disclosures by billionaire Gautam Adani’s Adani group, two people with direct knowledge of the matter said.
The Securities and Exchange Board of India (Sebi) filed its request with the Supreme Court on Saturday, citing complex transactions involving listed, unlisted and offshore entities that require deeper investigations, the sources said.
Allegations against the Adani group were made by a US-based short seller.
Adani group did not immediately respond to queries sent by Reuters.