Why did the SEBI Chairperson refuse to comment on Adani-Hindenburg row?

Securities and Exchange Board of India's Chairperson Madhabi Puri Buch in her first press appearance since the Adani-Hindenburg row broke out, said that the regulator will not comment on the matter as it is sub judice.

On 2nd March, India’s Supreme Court set up an expert committee to investigate allegations made by the U.S. based short-seller Hindenburg Research in its damning report on Adani Group. The Hindenburg report levelled some serious charges against the Indian conglomerate which led to an unprecedented $120 billion decline in Adani Group stocks over the next few weeks.

SC directed SEBI to investigate whether there has been a violation of SEBI rules and any manipulation of stock prices.

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