BackAdani row: Why Sebi didn't get to bottom of issues raised by Hindenburg, asks Raghuram Rajan
On being asked about the measures taken by the government to address worries after the Hindenburg allegations on Adani Group, Rajan said that he doesn't think the issue is of more oversight over private companies.
PremiumAmid the Adani row, former Reserve Bank of India (RBI) Governor Raghuram Rajan asked why markets regulator SEBI did not get to the bottom of the issues that were raised by US-based short-seller Hindenburg research. He also questioned why SEBI didn't get in touch with the agency if it needed help from probing agencies.
"Why has SEBI not yet got to the bottom of the ownership of those Mauritius funds which have been holding and trading Adani stock? Does it need help from the investigative agencies?" news agency PTI quoted Rajan as asking.
On being asked about the suggestions taken by the government to address worries after the Hindenburg allegations on Adani Group, Rajan said: "I don't think the issue is of more oversight over private companies".
ALSO READ: Embattled Adani Group's $2 bn worth foreign currency bonds due for repayment in 2024
According to the renowned economist, the issue is of reducing non-transparent links between government and business is encouraging.
Meanwhile, Adani Group has extended a worldwide roadshow with the management is seeking to reassure investors that the firm's finances are under control.
From 7-15 March, the group will hold meetings with fixed-income investors in Dubai, London and the US, reported Bloomberg.
This is seen as Adani's efforts to bring in confidence of investors following the report from US short seller Hindenburg Research, due to which it suffered major losses in stock market and in m-Cap. As per details, the firm lost around $150 billion from the group’s stock market value.
With agency inputs.
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