A day after the Securities and Exchange Board of India’s (SEBI) clean chit to the Adani Group in the Hindenburg matter, the Congress Friday said that there is a “continued need” to investigate the ‘Modani scam’ in all its dimensions.
The SEBI clean chit to Gautam Adani, Rajesh Adani and key Adani Group companies is “only in two of the 20 matters being investigated” by it, under a Supreme Court-mandated probe, said Congress general secretary (communications) Jairam Ramesh in a statement.
The Supreme Court on March 2, 2023, had directed the SEBI to “conclude the investigation within two months”, following the Hindenburg Report. “Yet, the first SEBI orders were delivered only after two years and seven months, following repeated extensions and delays… We now await SEBI’s findings on the remaining 22 matters, which include allegations of insider trading in Adani Group companies, violations of rules relating to minimum public shareholding, and the 13 ‘suspicious transactions’ that SEBI told the Supreme Court on August 25, 2023, that it was investigating,” Ramesh said.