New Delhi, Aug 26- The Securities and Exchange Board of India (SEBI) has given its report on the Adani-Hindenburg case. SEBI told the Supreme Court that out of 24 allegations, 22 allegations have been investigated. There are 2 issues on which the result of the investigation is at the interim stage. It is awaiting information from five countries about the real owners of foreign companies investing in the companies of this group.
In the interim investigation, 13 overseas units of Adani companies have been investigated. In this, details have been sought from five countries on matters of Foreign Portfolio Investment (FPI). Under the investigation, SEBI has covered 13 such overseas companies which are said to be public shareholders of Adani Group. The Supreme Court had given SEBI time till August 14, 2023, to submit the report. In the hearing on August 14, SEBI told the Supreme Court that the investigation of the case has been completed to a large extent, but to submit the final report, 15 more days have been given. Need time of day. Now the matter will be heard on 29 August 2023.
PIL petitioner Vishal Tiwari said “Today SEBI has submitted the status report of the investigation to the apex court. In which all the investigations done by SEBI have been told. SEBI was supposed to submit the adjudication report today but SEBI has not given any such adjudication report along with the status report. So this status report can be considered as information only. Were any irregularities found in Adani Group? Were there any other companies that were found to have any irregularities? How true was the Hindenburg Report? etc. All these were to come in the conclusion of the SEBI report but have not been filed by SEBI with this status report. Now when the matter comes up for hearing on August 29, all these points will be raised as the status report submitted is just incomplete information.”
On 24 January 2023, Hindenburg Research presented a detailed report by Adani Group in which many major allegations were made about Adani Group and it was said that Adani had manipulated the shares. Apart from this, allegations were also made regarding the transaction. After this, the market of Adani Group declined significantly. The stock of Adani Group also declined significantly.
- Advertisement -
