Capital markets regulator Securities and Alternate Board of India (SEBI) and Directorate of Income Intelligence (DRI) are collectively probing corporations belonging to Adani Group for violation of sure norms, Finance Minister Pankaj Choudhary advised Lok Sabha. Monday.
Minister of State for Finance Pankaj Choudhary mentioned accounts of three of the six Mauritius-based funds, which have invested most of their cash in Adani Group corporations, have been frozen in 2016 because of the issuance of International Depository Receipts (GDRs) by some listed corporations. Had gone. No freeze was ordered for his stake in different corporations. With out giving particulars, he mentioned, “Sebi is probing among the Adani Group corporations for compliance with SEBI norms. As well as, DRI "Adani is probing certain entities belonging to the Group of Companies under the laws administered by it," They mentioned.
The minister didn’t specify which corporations of the Adani group have been being probed by SEBI and DRI. He additionally didn’t elaborate on the character of the violation. Nevertheless, he mentioned the Enforcement Directorate (ED) was not probing the Adani group. Shares of the Port-to-Vitality group fell final month following experiences that three of the six Mauritius-based funds had invested most of their cash in Adani Group corporations that have been frozen by the nationwide inventory depository .
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