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The Finance Ministry on Monday categorically stated that it did not mislead Parliament on the issue related with investigation against Adani group of companies.
This remark has been made after senior Congress Leader Jairam Ramesh alleged that there is government and SEBI (Securities and Exchange Board of India) are talking in different tone.
In a tweet, Ramesh said the Minister of State for Finance, Pankaj Chaudhary, told the Lok Sabha on July 19, 2021, that SEBI was investigating the Adani Group. “Now, SEBI tells the Supreme Court that they have not been investigating any of the serious allegations against Adani! Which is worse—misleading Parliament, or being fast asleep as lakhs of investors are duped by alleged money-laundering and round-tripping using offshore shell companies? Or even worse, was there a restraining hand from above,” he asked.
Responding to the tweet, Finance Ministry tweeted by saying: “The government stands by its reply in the Lok Sabha on July 19, 2021 to Q. No. 72, which was based on due diligence and inputs from all concerned agencies.”
In response to the said question by TMC leader Mahua Moitra, Chaudhary had said that SEBI is investigating some Adani Group companies with regard to compliance with SEBI regulations. Further, the Directorate of Revenue Intelligence (DRI) is investigating certain entities belonging to the Adani Group of Companies under laws administered by it. As far as investigation under Income Tax Act, 1961 is concerned, disclosure of information regarding specific taxpayer is prohibited except as provided under Section 138 of Act.
No such investigation is going on in the Enforcement Directorate. In a matter pertaining to issuances of Global Depository Receipt (GDR) by certain Indian listed companies, SEBI vide Order dated June 16, 2016 had directed depositories to freeze particular beneficiary accounts of certain FPIs including Albula Investment Fund Ltd., Cresta Fund Ltd, and APMS Investment Fund Ltd. However, “no Order in respect of other beneficiary accounts of these three FPIs has been passed by SEBI,” he said.
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