The Securities and Exchange Board of India has filed a new status report with the Supreme Court, informing it that 22 of the 24 probes originating from the Hindenburg report are final and two are interim.
SEBI stated that, in relation to the interim investigation reports, it has sought information from external agencies and entities and, upon receipt of such material, it will analyze it in relation to the interim investigation report to decide the next course of action, if any, in the circumstances.
SEBI stated that it will take appropriate action based on the findings of the investigations in compliance with the law in a variety of areas. The inquiry was conducted in accordance with the directives of the Supreme Court’s ruling dated March 2, 2023, and SEBI probed 24 topics.
SEBI has conducted an investigation into the alleged violation of rule 19A of the Securities Contracts (Regulation) Rules, 1957 (Minimum Public Shareholding) and alleged non-compliance with the requirements for minimum public shareholding (“MPS”) specified in rule 19A of the Securities Contracts (Regulation) Rules, 1957 (SCRR).
The purpose of the investigation is to determine suspected non-compliance with the minimum public shareholding standards outlined in Rule 19A of the Securities Contracts (Regulation) Rules, 1957 (SCRR).