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Adani Controversy: SEBI is investigating the matter states Pankaj Chaudhary

New Delhi: Union Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that SEBI is investigating the allegations against Adani that it manipulated the stock market and cheated investors by inflating its share value. In this regard, the minister was replying to the questions of T.N. Prathapan, MP.

The Minister stated that the Securities and Exchange Board of India (SEBI), which works to ensure the credibility of the stock market, provide security to investors, and ensure the smooth operation of the stock market, is investigating complaints of stock market irregularities, and that SEBI is investigating the allegations against the Adani Group.

Between January 24 and March 1, 2023, Adani’s market capitalization fell by nearly 60% as a result of the Hindenburg report. The Adani Group was formed by the merger of nine companies. These companies are not included in the Sensex. The Center has confirmed that these companies have less than one percent presence in the Nifty.

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