Live
- BJP MP candidate Bharat Prasad visited the student who tried to commit suicide
- PM’s popularity in the fast lane: Autos with 'Har Dil Mein Modi' slogan spotted across Delhi
- Delhi-based political parties are like East India Company: Sukhbir Badal
- Golf: Diksha moves into Top-20 at South African Women’s Open
- KCR lashes out against BJP and Congress for destroying Telangana
- Dairy Science students visited the Milk cooling plant
- Moody feels Pant ahead in keepers’ race for T20 WC squad; Srikkanth picks Rahul over Samson as reserve keeper
- Thanking voters for extending 'unparalleled support' to NDA, PM Modi says second phase 'too good'
- Natural Relief for Menstrual Cramps: Beetroot Juice Recipe
- Asha Worker died in a road accident
Sebi probing charges against Adani
Sebi probing charges against Adani
Regulator Sebi is investigating market allegations against Adani group, whose 9 listed companies saw a 60 per cent decline in their market capitalisation between January 24 and March 1, Parliament was informed on Monday.
New Delhi: Regulator Sebi is investigating market allegations against Adani group, whose 9 listed companies saw a 60 per cent decline in their market capitalisation between January 24 and March 1, Parliament was informed on Monday. Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that the volatility in the stocks of these companies have not had any significant impact at the systemic level. Nifty 50 declined by around 4.5 per cent during the same period.
The Securities and Exchange Board of India (Sebi), as the statutory regulator of securities markets, is mandated to put in place regulatory frameworks for effecting stable operations and development of the securities markets including protection of investors. As per its mandate, it conducts investigations into any alleged violations of its regulations by any market entity, he said. "It is, accordingly, undertaking investigation into the market allegations against the Adani Group of companies.
The nine listed companies forming part of Adani Group witnessed a decline of around 60 per cent of market capitalisation from January 24, 2023 till March 1, 2023 subsequent to the report published by Hindenburg Research," Chaudhary said. US-based short seller Hindenburg had in January made a litany of allegations, including fraudulent transactions and share-price manipulation, against Adani group, following which shares of group companies had taken a beating.
The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. Chaudhary said as per the Reserve Bank of India, banks are free to take credit related decisions based on internal assessment of the commercial viability of the loan within their board-approved policies and within RBI's prudential guidelines. Further, RBI has informed that under the provisions of section 45E of the Reserve Bank of India Act, 1934, the central bank is prohibited from disclosing credit information, he said.
