Congress General Secretary Jairam Ramesh said SEBI suspects that the Adani Group violated rules regarding minimum public shareholding using opaque overseas funds, but failed to do anything.
After SEBI made submissions in the Supreme Court in the Adani-Hindenburg matter on Monday, the Congress said on Tuesday that the market regulator "failed" to file a case that could trigger an Enforcement Directorate (ED) .
The Congress Party in a statement has pointed out that the recent decision by the market regulator, Securities and Exchange Board of India (SEBI) to reintroduce strict report requirements for foreign institutional investors (https://www.moneylife.in/article/investments-by-foreign-entities-with-common-owner-to-be-seen-as-single-fpi-entry-sebi/53697.html) represents a public admission of guilt by the regulatory body.
Jairam Ramesh said they are also awaiting the SEBI report slated for Aug 14 that would answer key questions on origins of the ₹20,000 cr “opaque foreign funds” flowing into Adani group of companies | Latest News India