What is the accusation made by a petitioner against SEBI regarding Adani in the Supreme Court
A petitioner in the Supreme Court has accused SEBI of concealing a 2014 DRI (Directorate of Revenue Intelligence) alert related to Adani. It is important to understand the nature of this accusation and its implications.
- The petitioner has accused the Securities and Exchange Board of India (SEBI) of concealing a 2014 Directorate of Revenue Intelligence (DRI) alert related to the Adani Group.
- The DRI alert allegedly stated that three Adani Group companies had over-invoiced imports by a significant amount.
- The petitioner claims that SEBI did not disclose this information in response to an RTI (Right to Information) application, thereby suppressing crucial evidence.
- This accusation raises questions about SEBI's transparency and its handling of sensitive information related to large corporations.
- It also implies that SEBI may have been aware of potential financial irregularities within the Adani Group but failed to take necessary action.
- This accusation has legal implications as it challenges the credibility and integrity of SEBI as a regulatory authority.
- The Supreme Court's decision in this case will determine whether SEBI will be held accountable for any potential misconduct.
- If proven true, this accusation could have significant consequences for both SEBI and the Adani Group, potentially leading to regulatory action and legal repercussions.
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a year ago