Friday, February 23, 2024

Allegations that we have been investigating Adani since 2016 baseless: Sebi

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MUMBAI: In a recent statement, the Securities and Exchange Board of India (Sebi) categorically dismissed the allegations that it has been investigating Adani Group since 2016. The regulatory body has refuted these claims, labeling them as baseless and unsubstantiated.

Sebi, which is responsible for regulating the securities market in India, clarified its stance on the matter following widespread speculation and media reports. The rumors alleged that Adani Group, a leading conglomerate with diverse business interests, had been under investigation by Sebi for several years.

“The allegations suggesting that Sebi has been conducting an investigation into Adani Group since 2016 are completely without merit. There is no truth to these claims,” stated an official spokesperson from Sebi.

This strong denial from Sebi comes as a relief to the Adani Group, which has faced significant scrutiny and negative publicity due to the alleged ongoing investigation. The conglomerate, led by billionaire Gautam Adani, operates across sectors such as energy, infrastructure, ports, and logistics.

The news of Sebi’s dismissal of the allegations provides a significant boost to Adani Group’s reputation and investor confidence. The conglomerate’s stock prices experienced a surge following the announcement, indicating the market’s positive response to the regulatory body’s statement.

Sebi’s swift response aims to restore faith in the regulatory system and maintain transparency in its dealings. The board reiterated its commitment to fair and unbiased investigations, ensuring that all market participants are treated equitably.

The developments surrounding the alleged investigation have been closely followed by investors, analysts, and the public alike. However, with Sebi’s denial, the cloud of uncertainty surrounding Adani Group appears to have dissipated, allowing the conglomerate to focus on its operations and future growth prospects.

While these baseless allegations have now been put to rest, Sebi remains committed to its role in safeguarding the integrity of India’s capital markets, ensuring a fair and transparent environment for investors and market participants.

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