New Delhi: The Securities and Exchange Board of India (SEBI) on Monday told the Supreme Court that the allegation that Sebi has been investigating the Adani Group since 2016 is “factually baseless”. SEBI also cautioned against drawing “premature and erroneous conclusions” in the matter.

SEBI, in an affidavit filed in the apex court, said it had examined the issuance of Global Depository Receipts (GDRs) of 51 companies and none of the listed companies of the Adani Group were among these 51 companies.

SEBI’s affidavit was filed in response to a petition claiming that sebi has been investigating the Adani group since 2016 and hence the regulator should not be given a six-month extension to probe the matter.

SEBI says that the application for extension of 6 months filed by SEBI is aimed at ensuring the fulfillment of justice keeping in view the interest of investors and the securities market, as no wrong or premature conclusion of the case without the contents of the full facts on record will serve the purpose of justice, So it will be legally untenable.

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