The six-member committee appointed by the Supreme Court has said in its report that it has not found evidence of the Adani Group violating existing market regulations. However, the Securities and Exchange Board of India (Sebi) wants time to further investigate charges made in the Hindenburg report. The ball is now firmly in Sebi’s court as it has sought more time to investigate possible violations of norms pertaining to minimum public shareholding and related party transactions. The report says: “Sebi is seeking more time to effect more investigations. This is (a) matter between Sebi and the Hon’ble Supreme Court.” The committee has called for a coherent enforcement policy, after Sebi has shown an intent to go beyond the remit of its own regulations.