A lawyer has filed an application in the Supreme Court asking for compliance with the previously set three-month timeline for SEBI to complete investigations into allegations against the Adani Group. The lawyer argues that the use of the word 'preferably' in the previous order does not negate the fixed timeline and stresses the importance of adhering to it. This comes at a time when the UAW is accusing Trump and Musk of violating workers' rights, further highlighting the contentious relationship between the two parties.
Adani Group Investigation: Timeline Dispute Reaches Supreme Court
The Supreme Court has received an application from a lawyer urging compliance with a previously set three-month timeline for completing the Securities and Exchange Board of India's (SEBI) investigation into the allegations against the Adani Group. The application argues that the use of the word "preferably" in the previous order does not negate the fixed timeline and emphasizes the significance of adhering to it.
Background:
In February 2023, a report by Hindenburg Research raised allegations of fraud and accounting irregularities against the Adani Group. The report sent shockwaves through the Indian stock market, triggering a sharp decline in the group's share prices.
In response to the allegations, SEBI initiated an investigation and formed an expert panel to review the matter. The Supreme Court subsequently ordered SEBI to complete its investigation "preferably within two months."
Lawyer's Argument:
The lawyer filing the application argues that the use of "preferably" does not provide SEBI with the discretion to extend the deadline beyond the three-month timeline. The lawyer stresses that the Supreme Court's order must be followed strictly to ensure transparency and accountability in the investigation process.
UAW's Accusations:
The application comes amidst escalating tensions between the United Auto Workers (UAW) union and Tesla CEO Elon Musk. The UAW has accused Trump and Musk of violating workers' rights at Tesla's Fremont, California, plant.
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