SEBI slept over DRI info: PIL in Supreme Court
New Delhi, September 11
A PIL in the Adani-Hindenburg row has alleged that market regulator SEBI suppressed crucial facts from the Supreme Court and “slept over” Directorate of Revenue Intelligence’s (DRI) letter on alleged stock manipulation by Adani firms.
In an affidavit filed in the top court, petitioner Anamika Jaiswal – a law student – said while the investigation against the Adani Group was going on in the over invoicing case, the DRI sent a letter to the then SEBI chairperson in 2014 alerting him that the group may be committing stock market manipulation using the money allegedly siphoned off using the modus operandi of over-valuation in the import of power equipment.
The letter was accompanied by a CD containing evidence of siphoning off Rs 2,323 crore and two notes on the case being investigated by the DRI, the affidavit alleged.
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