Priyanka Chaturvedi writes letter to SEBI for seeking details of investigation against Adani group

Shiv Sena (UBT) MP Priyanka Chaturvedi has written a letter to the Securities and Exchange Board of India (SEBI) seeking details of the investigation it is conducting against some companies of the Adani group.

In a letter dated April 18, which was posted on Twitter,  Chaturvedi said the SEBI had started a probe against some companies of the Adani group in 2021. However, no closure report has been filed nor any reason for the delay has been shared by the regulator, it said.

The details of the investigation and reasons for the delay in completion of the investigation must be apprised to the general public. The regulator must also look into the allegations of related entities manipulating the stock prices, Chaturvedi said in the letter.

This will ensure transparency and investor confidence, the Rajya Sabha member added. Adani group faces allegations of stock manipulation and fraud raised by US short-seller Hindenburg Research. The group has denied the allegations, which created a political firestorm and eroded the tycoon's net worth.

In Parliament, the Congress along with 18-19 parties including the Shiv Sena (Uddhav Balasaheb Thackeray), has sought a joint parliamentary committee to probe the issue.

My letter to SEBI Chairperson, reminding her once again, after my letter dated Feb 3, 2023, that investigation SEBI began in some of the Adani Group companies in 2021 still await a closure report. Its only fair the investors know the outcome. pic.twitter.com/it9Lfo4jLU

— Priyanka Chaturvedi🇮🇳 (@priyankac19) April 20, 2023