Editor's Pick: SEBI denies probing Adani since 2016

Calling it “factually baseless”, the Securities and Exchange Board of India (SEBI) on Monday denied the allegation that it had been investigating the Adani Group since 2016. SEBI filed an affidavit in the Supreme Court on Sunday, distancing Adani Group from any “investigations” from 2016. The affidavit was filed in response to oral submissions made by advocate Prashant Bhushan before a three-judge Bench, led by Chief Justice D.Y. Chandrachud, in a hearing in the Hindenburg-Adani case on Friday. Mr. Bhushan’s submission was denied by Solicitor General Tushar Mehta, who said that the allegation referred to a “completely unconnected” investigation. The court debate was initially focused on SEBI’s request for a six-month extension to complete its inquiry into Hindenburg Research’s report accusing the Adani Group of “brazen stock manipulation and accounting fraud schemes over the course of decades”. However, Congress leader Jairam Ramesh said on Twitter that SEBI’s “factually baseless” remark is comparable with a statement made by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha on July 19, 2021. “The Minister of State for Finance, Pankaj Chaudhary, had told the Lok Sabha on July 19, 2021, that SEBI had been investigating the Adani Group. Now SEBI tells the Supreme Court that they have not been investigating any of the serious allegations against Adani! Which is worse — misleading Parliament or being fast asleep as lakhs of investors are duped by alleged money laundering and round-tripping using offshore shell companies. Or even worse, was there a restraining hand from above?” Mr. Ramesh tweeted. The Ministry responded to Mr. Ramesh’s tweet with only a statement that said, “The government stands by its reply on July 19, 2021.” The Supreme Court is scheduled to hear SEBI’s plea, seeking a six-month extension to complete its probe into allegations of stock price manipulation by the Adani group, on Tuesday. The Hindu’s Editorials Safety, in the line of duty: on Kerala’s move and health-care workers Death by methanol: on the hooch tragedy in Tamil Nadu The Hindu’s Daily News Quiz The exhibition ‘Jana Shakti: A Collective Power’ by top artists at the National Gallery of Modern Art has been specially curated to mark which event? Raja Ravi Varma birth anniversary 75 years of Independence 100 episodes of Mann Ki Baat Rabindra Jayanti To know the answer and to play the full quiz, click here. [logo] Editor's Pick 16 May 2023 [The Hindu logo] In the Editor's Pick newsletter, The Hindu explains why a story was important enough to be carried on the front page of today's edition of our newspaper. [Arrow]( [Open in browser]( [Mail icon]( [More newsletters]( SEBI denies probing Adani since 2016; Congress says Minister misled Lok Sabha Calling it “factually baseless”, the Securities and Exchange Board of India (SEBI) on Monday [denied the allegation]( that it had been investigating the Adani Group since 2016. SEBI filed an affidavit in the Supreme Court on Sunday, distancing Adani Group from any “investigations” from 2016. The affidavit was filed in response to oral submissions made by advocate Prashant Bhushan before a three-judge Bench, led by Chief Justice D.Y. Chandrachud, in a hearing in the Hindenburg-Adani case on Friday. Mr. Bhushan’s submission was denied by Solicitor General Tushar Mehta, who said that the allegation referred to a “completely unconnected” investigation. The court debate was initially focused on SEBI’s request for a six-month extension to complete its inquiry into Hindenburg Research’s report accusing the Adani Group of “brazen stock manipulation and accounting fraud schemes over the course of decades”. However, [Congress leader Jairam Ramesh]( said on Twitter that SEBI’s “factually baseless” remark is comparable with a statement made by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha on July 19, 2021. “The Minister of State for Finance, Pankaj Chaudhary, had told the Lok Sabha on July 19, 2021, that SEBI had been investigating the Adani Group. Now SEBI tells the Supreme Court that they have not been investigating any of the serious allegations against Adani! Which is worse — misleading Parliament or being fast asleep as lakhs of investors are duped by alleged money laundering and round-tripping using offshore shell companies. Or even worse, was there a restraining hand from above?” Mr. Ramesh tweeted. The Ministry responded to Mr. Ramesh’s tweet with only a statement that said, “The government stands by its reply on July 19, 2021.” The Supreme Court is scheduled to hear SEBI’s plea, seeking a six-month extension to complete its probe into allegations of stock price manipulation by the Adani group, on Tuesday. The Hindu’s Editorials [Arrow][Safety, in the line of duty: on Kerala’s move and health-care workers]( [Arrow][Death by methanol: on the hooch tragedy in Tamil Nadu](  The Hindu’s Daily News Quiz The exhibition ‘Jana Shakti: A Collective Power’ by top artists at the National Gallery of Modern Art has been specially curated to mark which event? - Raja Ravi Varma birth anniversary - 75 years of Independence - 100 episodes of Mann Ki Baat - Rabindra Jayanti To know the answer and to play the full quiz, [click here](. [Sign up for free]( [[Karnataka government formation | KPCC chief D.K. 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