No conclusions of any alleged wrong-doing in Sebi’s application to SC: Adani Group

IANS

New Delhi, April 29

Adani Group said in a statement issued on Saturday night that in the Sebi application filed before the Supreme Court, there are no conclusions of any alleged wrong-doing.

A spokesperson for Adani Group said Sebi is conducting an investigation into the allegations levelled by a foreign short-seller on January 25, 2023 and also into market activities before and after that date.

“We understand that Sebi has approached the Supreme Court seeking more time to conclude its investigation. We have welcomed the investigation, which represents a fair opportunity for everyone to be heard and for all issues to be addressed. We are fully compliant with all laws, rules and regulations and are confident that truth will prevail,” Adani Group said in the statement.

“We are fully cooperating with Sebi and will continue to provide all our support and cooperation. It is pertinent to note that in the Sebi application filed before the Supreme Court, there are no conclusions of any alleged wrong-doing. The Sebi application only cites the allegations levelled in the short-seller’s report, which are still under investigation,” the statement said.

“While we continue to remain focused on our business and growth, we would request the media to avoid needless speculation at this time and wait for SEBI and the Expert Committee appointed by the Supreme Court to complete their work and submit their findings,” the statement added.

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