Adani-Hindenburg row: TMC MP Mahua Moitra questions SEBI committee member's link to Adani family
3 min read . Updated: 03 Feb 2023, 12:24 PM IST
Premium- ‘Greatest respect for ace lawyer Cyril Shroff but his daughter is married to Gautam Adani’s son,’ TMC MP Mahua Moitra tweeted
Amid the allegations of ‘stock manipulation and accounting malpractices’ levelled by US- based short seller Hindenburg Research, Trinamool Congress (TMC) leader Mahua Moitra has said lawyer Cyril Shroff should recuse himself from SEBI’s Committee on Corporate Governance & Insider Trading, if it's investigating the Adani issue, as his daughter is married to Adani’s son.
“Greatest respect for ace lawyer Cyril Shroff but his daughter is married to Gautam Adani’s son. Shroff serves on SEBI’s Committee on Corporate Governance & Insider Trading. If at all @SEBI_India is examining the Adani's issue, Shroff should recuse himself. Perceptions are Reality," TMC MP Mahua tweeted.
To be sure, the corporate governance committee set up by Sebi has ceased to exist since it submitted its report. A person familiar with Mr Shroff's role says that he had only provided input to the Insider Trading Committee, which also submitted its report and is no longer in existence.
After the the Dow Jones Sustainability Indice announced the removal of Adani Enterprises shares effective 7 February 2023, the TMC MP questioned: 'Why is NSE not reevaluating index membership of Adani stocks,?
Taking to Twitter, she wrote, “S&P Dow Jones removes Adani Enterprises from Dow Jones indices due to charges of stock manipulation & accounting fraud. Why is @NSEIndia not reevaluating index membership of Adani stocks when international ones are?"
"Adani Enterprises will be removed from the Dow Jones sustainability indices following a media and stakeholder analysis triggered by allegations of accounting fraud," S&P Dow Jones Indices said in a statement.
The move by S&P Dow Jones comes amid leading stock exchanges BSE and NSE putting three Adani Group companies -- Adani Enterprises, Adani Ports and Special Economic Zone and Ambuja Cements -- under their short-term additional surveillance measure (ASM) framework.
Shares of Adani Enterprises were trading 15 per cent lower on the BSE in the morning trade on Friday. The counter had plunged over 26 per cent on Thursday and more than 28 per cent on Wednesday.
Meanwhile, opposition parties will meet Friday morning to coordinate their strategy in Parliament, a day after they unitedly led the charge against the government over the issue of the Adani Group stock rout.
Various opposition parties on Thursday stalled both houses of Parliament over the Adani issue and demanded a Joint Parliamentary Committee probe or a Supreme Court-monitored Committee investigation into it.
Taking to Twitter, she wrote, “S&P Dow Jones removes Adani Enterprises from Dow Jones indices due to charges of stock manipulation & accounting fraud. Why is @NSEIndia not reevaluating index membership of Adani stocks when international ones are?"
"Adani Enterprises will be removed from the Dow Jones sustainability indices following a media and stakeholder analysis triggered by allegations of accounting fraud," S&P Dow Jones Indices said in a statement.
The move by S&P Dow Jones comes amid leading stock exchanges BSE and NSE putting three Adani Group companies -- Adani Enterprises, Adani Ports and Special Economic Zone and Ambuja Cements -- under their short-term additional surveillance measure (ASM) framework.
Shares of Adani Enterprises were trading 15 per cent lower on the BSE in the morning trade on Friday. The counter had plunged over 26 per cent on Thursday and more than 28 per cent on Wednesday.
Meanwhile, opposition parties will meet Friday morning to coordinate their strategy in Parliament, a day after they unitedly led the charge against the government over the issue of the Adani Group stock rout.
Various opposition parties on Thursday stalled both houses of Parliament over the Adani issue and demanded a Joint Parliamentary Committee probe or a Supreme Court-monitored Committee investigation into it.
