A fresh plea has been filed in the Supreme Court seeking an investigation into alleged bribery involving Gautam Adani, Sagar Adani, and Vneet Jaain. Concerns over corruption and the conduct of the Securities and Exchange Board of India (SEBI) are emphasized by Advocate Vishal Tiwari, who previously led petitions following the Hindenburg Report.
The plea accuses SEBI of withholding findings from an investigation mandated by the Supreme Court, which began in March 2023 to address allegations of stock price manipulation and violations of Securities Contract Rules. The lack of transparency regarding SEBI's findings is said to undermine investor trust in the market.
The plea also references discrepancies in a U.S. indictment order, which suggests that while Gautam Adani was aware of a Department of Justice probe in March 2023, Adani Green issued letters to the Bombay Stock Exchange and National Stock Exchange in March 2024, denying any knowledge of the investigation. This situation raises significant concerns about regulatory oversight and the integrity of market operations.