The Supreme Court has urged the Securities and Exchange Board of India (SEBI) to expedite its investigation into allegations of stock price manipulation by the Adani group. The court had granted an extension until August 14 for the probe and inquired about the status during a hearing. The SEBI responded that it is working on the investigation at a "legitimate speed" and had submitted a constructive response to the expert committee's suggestions. The court requested the SEBI's response to be circulated and placed on record before proceeding further.

Advocate Prashant Bhushan, representing one of the petitioners, stated that their detailed response to the expert committee's report highlighted a discrepancy between the committee's conclusions and the facts found. Bhushan argued that the SEBI's investigation is unlikely to make progress due to regulatory failures and recent rule amendments that hinder scrutiny of transactions. The court instructed the SEBI to share its response on the expert committee's recommendations with the concerned parties.

The expert committee, appointed by the Supreme Court, had previously reported no evident manipulation patterns in the Adani group's companies and found no regulatory failure. However, it did note rule changes made by the SEBI between 2014 and 2019 that limited the regulator's investigative capabilities. The court had directed the parties involved to access the committee's report for further deliberations. The allegations against the Adani group, made by Hindenburg Research, had caused a decline in their stocks, but the group has denied the charges and emphasized compliance with laws and disclosure requirements.