No govt committee to probe Adani Group: Minister Pankaj Chaudhary

In written answers (over which no debate was held) in the Lok Sabha, the government said it had not set up any committee to probe allegations by a short seller against Adani Group, but added that capital markets regulator Securities and Exchange Board of India (Sebi) is investigating market allegations against the group.

A separate investigation into imports of Indonesian coal by the conglomerate hasn’t reached finality, Minister of State for Finance Pankaj Chaudhary said. 

To a separate question, Chaudhary said the nine listed companies forming part of Adani Group saw 60 per cent decline in market capitalisation from January 24 until March 1 after publication of the Hindenburg report. 

On the allegations, he said Sebi, as the statutory regulator of securities markets, is mandated to put in place regulatory frameworks for effecting stable operations and development of the securities markets, including the protection of investors.