Their six-page rebuttal offers detailed clarifications, addressing the "malicious campaign", particularly regarding Dhaval's consulting assignments and Madhabi's tenure at SEBI as the chairperson.
The development comes days after the apex court sought a reply from both SEBI and central government regarding the formation of a committee to investigate the Adani Group last week.
This is the market regulator's first statement after several Adani Group stocks witnessed an "unusual price movement" over the past 10 days.
