The Securities and Exchange Board of India (SEBI) on Wednesday refused to comment on Adani-Hindenburg Report. Addressing the media after the Board meeting SEBI chief Madhabi Puri Buch said, “Elephant in the room is Adani, we don’t comment on subjudice matters”.

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She highlighted that the matter is before the Supreme Court and it is inappropriate for the regulatory body to comment on it.

SEBI chairperson said the court has instructed the regulatory body against sharing the investigation report. "Bound by the highest court to submit status of investigation to court only. We are duty bound to follow the orders of the court," she said.

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Buch said that the regulator would only follow the advice of the court. "We never share the investigation report. We will respect the orders of the Supreme Court. There is no public sharing as per the Supreme Court," SEBI chairman added.

The Supreme Court earlier this month had instructed SEBI to investigate if the Adani group had violated the securities norms. It asked the regulatory body to submit the report of the same within two months.

"It appears that Sebi is seized of the allegations and has not expressly referred to investigation in violation of the minimum public shareholding norms," the court said.

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