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Congress Urges SEBI Action on Adani Allegations, Criticizes SBI’s Approach

The Congress has expressed hope that SEBI will not seek further extensions in presenting its report on alleged stock manipulation by the Adani Group, criticizing SEBI’s potential delay tactics akin to SBI’s cautious approach. Congress General Secretary Jairam Ramesh emphasized SEBI’s responsibility in addressing Hindenburg Research’s serious allegations against the ‘Modani’ group. Ramesh urged SEBI to meet the deadline set by the Supreme Court, highlighting the importance of timely action in the midst of election proceedings.

While the Adani Group refuted the accusations, Congress underscored the need for SEBI’s report submission without seeking further delays. Additionally, Congress called for a Joint Parliamentary Committee (JPC) investigation to thoroughly examine the extent of the alleged Modani scam, suggesting that only a JPC could unravel its true dimensions. With the Lok Sabha polls looming, Congress continues to press for clarity and accountability regarding the Adani controversy, demanding answers on what it perceives as a significant financial impropriety.