Three days after a US-based investment research firm released a report accusing the Adani group of stock manipulation and financial irregularities, the Securities and Exchange Board of India (SEBI), the country’s market regulator, has increased scrutiny of all the deals done by billionaire Gautam Adani’s companies over the past one year. According to a report published by Reuters on Friday, January 27, SEBI will be reviewing the report by Hindenburg Research as part of its ongoing investigations into the Adani group.In a report released on January 24, Hindenburg Research said it had conducted a two-year investigation into the Adani empire and spoke to “dozens of individuals, including former senior executives of the Adani Group, reviewing thousands of documents, and conducting diligence site visits in almost half a dozen countries.”In a statement released on Wednesday, the Adani group denied the allegations. “The Group has always been in compliance with all laws, regardless of jurisdiction, and maintains the highest standards of corporate governance,” the statement by Adani Group CFO Jugeshinder Singh said.Reuters quoted sources as saying, “SEBI has been increasingly examining all the transactions that Adani Group has been undertaking in the listed space.”Meanwhile, the Indian National Congress on Friday demanded an investigation by the Reserve Bank of India (RBI) into the charges of alleged financial irregularities against the Adani group. Congress communications general secretary Jairam Ramesh said the forensic analysis by Hindenburg into the Adani group requires serious investigation by bodies like SEBI and RBI, as they are responsible for ensuring the stability and security of the country’s financial system.With inputs from PTI

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