Adani Supreme Court Hearing: The stock market regulator SEBI has told the Supreme Court that it is not conducting any investigation against the Adani group since 2016. SEBI has termed the matter of investigation as factually baseless. But the Finance Ministry has something else to say in this matter. The Finance Ministry has said in this matter by tweeting that the answer given by the Central Government in the Lok Sabha on 19 July 2021 still stands by it.
The Finance Ministry said that this reply was given after taking inputs from all the concerned departments. The Finance Ministry has said these things in response to the tweet of Jairam Ramesh, General Secretary of the Congress and Head of the Communication Department.
The Government stands by its reply in Lok Sabha on 19th July 2021 to Q.No. 72, which was based on due diligence and inputs from all concerned agencies. https://t.co/JGZHXT6kqM
— Ministry of Finance (@FinMinIndia) May 15, 2023
In fact, as soon as SEBI filed an application in the Supreme Court, it said that it is not conducting any investigation against the Adani group since 2016. After this, Congress General Secretary and Rajya Sabha MP Jairam Ramesh tweeted. In this tweet, he said that Minister of State for Finance Pankaj Chaudhary had said in the Lok Sabha on 19 July 2021 that SEBI is investigating against Adani Group. But now SEBI is saying that it is not doing any investigation against Adani group. “Which is worse, misleading the Parliament or sleeping when lakhs of investors were duped?” he asked. Was someone from above stopping? ‘ Jairam Ramesh has also attached in his tweet the written answer given by the Minister of State for Finance in the Parliament, which was given by the Minister of State for Finance in response to the question of TMC MP Mahua Moitra.
The Minister of State for Finance, Pankaj Chaudhary, told the Lok Sabha on 19th July 2021 that SEBI was investigating the Adani Group.
Now SEBI tells the Supreme Court that they have not been investigating any of the serious allegations against Adani!
Which is worse—misleading… pic.twitter.com/GWCcB9VkSO
— Jairam Ramesh (@Jairam_Ramesh) May 15, 2023
SEBI told the Supreme Court in its affidavit that the investigation done in its first affidavit was related to the issuance of Global Depository Receipts (GDRs) by 51 Indian firms and none of the listed companies of Adani Group was among them. On 12 May, Senior Advocate Prashant Bhushan opposed giving more time to SEBI for investigation against Adani Group. He said that SEBI has been probing the group since 2016. After which SEBI filed an affidavit in the court on Monday and told the court that it is not doing any investigation. ,
But this attitude of the Finance Ministry may increase the difficulties of SEBI which is already on target. The hearing of the Adani case in the Supreme Court will be held on Tuesday.
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