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By India Today News Desk: Congress general secretary in-charge (communications) Jairam Ramesh said he hopes that the Securities and Exchange Board of India (SEBI) seeking more time to complete the probe into the allegations made against the Adani Group by Hindenburg Research is not an effort to bury the scam.
The remark came hours after the market regulator sought six more months to finish its investigation.
Seven listed Adani companies along with subsidiaries are under the scanner over market manipulation, improper use of tax havens and even money laundering.
Reacting to Sebi’s request, Jairam Ramesh said, “The Committee—as it needs to be recalled—has limited terms of reference to begin with. It cannot (and will not want to) investigate the entire political science and business practices of the Group. That only a JPC can do. “
READ | Whose turn is it now? Hindenburg ready to strike with another ‘big’ report after Adani
“Hope this request by SEBI is not an effort to bury the scam or drag it out in the hope that the furore will die down,” he said.
“The SEBI Chairperson told the Committee that the Adani matter is the elephant in the room. Surely then it deserves to be treated with greater urgency,” he added.
Meanwhile, Gautam Adani’s group has likened the damning allegations made by short seller Hindenburg Research to a “calculated attack” on India, its institutions and growth story, saying the allegations are “nothing but a lie”.
In a 413-page response, Adani Group said the report was driven by “an ulterior motive” to “create a false market” to allow the US firm to make financial gains.
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