New Delhi : The Supreme Court will hear again on Tuesday in the Adani-Hindenburg case. However, the Supreme Court had heard the matter on Monday as well, in which the market regulator Securities and Exchange Board of India (SEBI) refused to accept the recommendation of the expert panel appointed by the Supreme Court. According to a report in the news agency Bhasha, SEBI told the Supreme Court on Monday in the Adani-Hindenburg case that the changes made in its regulations in 2019 It is not difficult to identify the beneficiaries of funds received from abroad and action will be taken if any violation is found.

Expert panel gives clean chit to Adani group companies

The Securities and Exchange Board of India (SEBI) told the Supreme Court that it has continuously tightened rules relating to beneficial ownership and related-party transactions. This is a major aspect in the allegations of rigging the share price of Adani Group companies. The court-appointed expert panel, in its interim report, had said that it did not find any evidence of wrongdoing in the companies of industrialist Gautam Adani and also did not see any regulatory failure.

rules Investigation stalled due to change in 2019 Referring to several amendments in SEBI regulations between 2010-2015, it was said that these hampered the regulator’s ability to investigate and hindered the flow of funds from foreign institutions. Nothing has come out in the investigation of the alleged violation. Without making any mention of the status report on its probe into the allegations against Adani Group, Sebi in its affidavit submitted in the court said that it does not agree with the expert panel about the difficulty in identifying the person having economic interest behind the foreign fund.

SEBI not barred from conducting probe

Markets regulator said SEBI cannot investigate any violation of securities laws There is no restriction on doing it. He said that he does not agree with the views of the expert panel and if there is any violation, action will be taken. A bench headed by Chief Justice of India (CJI) DY Chandrachud will hear the Adani-Hindenburg matter on Tuesday as well.

Hindenburg accused of fraud on the books

American Financial Research and investment company Hindenburg on 24 January 2019 In a report, the Adani Group was accused of fraud in the books of accounts and improper use of foreign entities along with manipulation of share prices. After these allegations, a big decline was registered in the shares of Adani Group. After this, the Supreme Court appointed an expert panel on March 2, 2019 to investigate the disclosure of transactions between related parties and manipulation of share prices. was formed. ,