Amidst growing concerns, the market regulator, Securities and Exchange Board of India (Sebi), has reportedly failed to come to a definitive conclusion in the ongoing probe into allegations of money laundering and round-tripping against the Adani Group. Congress leader Jairam Ramesh has expressed deep apprehension over this development.
In a pointed statement on Saturday, Jairam Ramesh underscored the disquiet within the Congress party regarding Sebi’s inability to reach a conclusive decision in the case involving the Adani Group. The allegations have revolved around financial improprieties, including round-tripping of funds and money laundering.
Sebi’s update on the matter was conveyed to the Supreme Court on Friday through an affidavit. The regulatory body provided insights into the progress of its investigation related to the Adani-Hindenburg affair. However, the lack of a clear verdict has raised eyebrows and prompted concerns about the integrity of the financial system.
Jairam Ramesh emphasized that the gravity of the situation warranted a thorough examination. He suggested that only a Joint Parliamentary Committee (JPC) could adequately scrutinize the intricacies of the case, particularly focusing on allegations of deviations from established norms and procedures that might have favored the Adani Group.
The Congress leader took to ‘X’ to share his statement, further amplifying the mounting anxieties surrounding this issue. “Sebi’s inability to reach a final conclusion in the matter of round-tripping and money-laundering allegations against the Adani Group is deeply worrying,” Jairam Ramesh stated, reflecting the prevailing sentiment within the Congress camp.
