“The Supreme Court, in its order of January 3, 2024, noted that Sebi had completed twenty-two out of twenty-four investigations into the Adani Group. Subsequently, one more investigation was completed in March 2024, and one remaining investigation is close to completion,” said Sebi.
Coming to the defence of its chairperson, Madhabi Puri Buch, the market watchdog said that it has adequate internal controls.
Also Read: Sebi’s Buch in Hindenburg’s firing line: How will markets react on Monday?
Regarding its show-cause notice issued to Hindenburg Research, Sebi pointed out that the matter is ongoing and is being dealt with “in accordance with established procedure and in compliance with the principles of natural justice.”
Sebi also called the allegations of favouritism towards Blackstone through regulations on REITs ‘inappropriate’.
“For the development of the Indian securities market, Sebi has at various times underscored the potential of REITs, SM REITs, InvITs, and Municipal Bonds among other asset classes for the democratisation of markets, financialisation of household savings, and for capital formation through the capital markets,” the statement noted.
“The claim that promoting REITs and SM REITs among various other asset classes by Sebi was only for benefiting one large multinational financial conglomerate is inappropriate,” it added.
First Published: Aug 11 2024 | 7:27 PM IST
