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India Business News: NEW DELHI: Market regulator Sebi on Friday filed final status report in the Supreme Court on 24 investigations it had carried out pursuant to short-se.
The Securities and Exchange Board of India has concluded 22 out of 24 investigations into the Adani group, analyzing data on nearly 350 million stock trades and scrutinizing dealings in seven Adani group firms.
The decision to hide this information on who Adani Enterprises' partner was in such a major infrastructure project points to the group shirking the "greater responsibility of clarifying the arrangement to investors and revealing who the noteholder is."
These previously unreported resignations took place just days before the SC formed a committee to look into whether or not regulators properly supervised Adani Group.
Bloomberg News reports that Vinod Adani, the powerful elder brother of Gautam Adani whose role was also questioned by short-seller Hindenburg, may be far more important in shoring up Adani’s mining project in Australia than has been known so far. He resigned from three key companies days before the Supreme Court set up a committee.