New Delhi, May 16 (FN Agency) The Securities and Exchange Board of India (SEBI) in its fresh affidavit on Monday told the Supreme Court bench that it has not probed any Adani company since 2016 and that it was a wrong statement made last time during the hearing by some parties. “SEBI has not probed any Adani company since 2016 and that it was a wrong statement made last time during the hearing by some parties,” the fresh affidavit filed by the SEBI, before the Supreme Court, said.
The affidavit was filed before the Supreme Court’s three-judge bench headed by the Chief Justice of India (CJI) Dr Dhananjaya Yeshwant Chadrachud. The Apex Court is expected to pronounce its order on Tuesday on the application of SEBI, seeking a further six months extension to complete the probe into the allegations of US short-seller Hindenburg against the top Indian business conglomerate, Adani group. The affidavit said, the SEBI was conducting a probe into the GDR issue and no listed Adani company was a part of the 51 cos under that investigation. Also, SEBI reiterates plea for 6-month extension to ‘ensure justice’ In respect of the investigation/examination relating to 12 transactions referred to in the Hindenburg Report, the SEBI, in its affidavit said that prima facie it is noted that these transactions are highly complex. These have many sub-transactions across numerous jurisdictions and a rigorous investigation of these transactions would require collation of data/information from various sources including bank statements from multiple domestic as well as international banks, the affidavit said.
It further said that financial statements of onshore and offshore entities involved in the transactions and contracts and agreements, if any, entered between the entities along with other supporting documents. Thereafter, analysis would have to be conducted on the documents received from various sources before conclusive findings can be arrived at, the affidavit further said. SEBI said a six-month extension of time is needed to complete the probe in Hindenburg Report case to ensure justice in the matter, the Solicitor General Tushar Mehta appearing for the SEBI told the Supreme Court The CJI asked, him and the other parties, whtehr the matter can be taken up on Tuesday. Mehta said, “we don’t have any problem for the hearing to continue on Tuesday”. Mehta said that SEBI has filed an affidavit in the case and this court may take it into the record and pass appropriate orders. The CJI Dr Chadrachud, led bench of the Supreme Court, received the copy from SEBI and said it would hear the matter on Tuesday.