bad news Mos finance to parliament dri and sebi investigating adani group companies
After the issue of Adani Group was raised in Parliament, the company’s shares have fallen drastically. SEBI is probing the matter whether the shares of Adani Group are being manipulated.
New Delhi. The listed companies of Gautam Adani’s Adani Group have suffered a major setback. This happened after raising the issue against the Adani Group in Parliament. Union Minister of State for Finance Bhagwat Kishan Rao has told in a written statement in Parliament that Directorate of Revenue Intelligence (DRI) and SEBI are investigating some companies of Adani Group. These investigations are related to compliance with SEBI rules. The Minister of State for Finance said that no investigation is being done by the Enforcement Directorate in this matter.
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After the statement of the state of finance, there is a huge fall in the shares of Adani Group. As soon as the matter was raised in Parliament, there has been a huge decline in all the companies of the Adani Group. Adani Port down 2.45 per cent, Adani Green Energy down 3.53 per cent, Adani Enterprises down 3 per cent, Adani Transmission down 1.75 per cent, Adani Total Gas down 5 per cent and Adani Power down 3.55 per cent has received.
Investigation is going on by SEBI in this matter.
SEBI is probing the matter whether the shares of Adani Group are being manipulated. This investigation started in the year 2020, which is still going on. Six companies of the Adani Group have given returns of 200-100% in the last one year. Adani Transmission has gained 669 per cent, Adani Total Gas 349%, Adani Enterprises 972 per cent, Adani Green Gas 254 per cent, Adani Port 147 per cent and Adani Power 295 per cent.
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Case has been raised against 6 companies
A total of 6 companies of the Adani Group are listed and traded on the stock exchanges. The holding of Foreign Portfolio Investors (FPIs) in these companies is based on the day-to-day trading of the shares. SEBI is probing some Adani Group companies regarding their compliance with the regulations. Apart from this, DRI is probing certain entities related to Adani Group of Companies under the laws.
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There was also information about freezing foreign funds account
Recently, there were also reports that National Securities Depository Limited (NSDL) has frozen the accounts of 3 foreign funds, which have major stake in Adani Group companies. Foreign funds have investments in 5 companies of the Adani Group and the total value of the shares is Rs 43,500 crore. In this regard, the statement from Gautam Adani Group said that the accounts of the funds have not been frozen. Such reports are completely baseless.
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