Since the Hindenburg Research report came out about the dubious dealings of the Adani group, no clarification has come from the BJP-led Central government or the Securities and Exchange Board of India (SEBI) even after more than two months about the huge money involved in various business dealings of the aforesaid business house. It is the duty of the government to set up an inquiry and inform the nation about the details of the dealings, said Faisal Izzudheen, national secretary of Social Democratic Party of India.
It is shocking that SEBI, the capital markets regulatory body, is unaware about those who subscribed to the 20,000 crore rupees follow-on public offering (FPO) of the Adani Enterprises as revealed through the RTI reports published by some leading media houses. The country cannot be taken for a ride about such a huge amount.
Even for small amounts transferred through UPI and other modes of transaction, the common people are asked to furnish Aadaar number, PAN card and other details, and failure to do so is either punished with monetary fines or, in some cases, it even leads to seizure of bank accounts. How come details of such huge dealings then are kept under wraps, asked the SDPI leader. It simply means that the government favours the rich or only whom it likes. Even for transacting small amounts, ED is taking extra care and arresting people on the one hand, on the other hand such transactions to the tune of 20,000 crore rupees happened for the Adani Enterprises and the SEBI has no knowledge.
This is a clear misuse of the office of power and a selective treatment.
As the government has been mute on the issue, SDPI demands the SEBI to conduct a high level inquiry into the whole Adani dealings and inform the public about it, said Faisal Izzudheen.