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SEBI investigation in Adani Group case has now reached foreign soil. For which the market regulator can send the matter to the government, so that the information required by SEBI can be obtained. In fact, foreign regulators are not providing information citing privacy. Because of which SEBI is in need of government’s help. Let us tell you that SEBI is trying to find out who all have got the benefit of the help from FPI. Very serious allegations have been made in the report of Hindenburg Research.
SEBI will seek help from the government
In the Adani-Hindenburg case, the scope of SEBI’s investigation is continuously increasing. For which he has to get information from foreign regulators, but in this matter SEBI’s troubles are increasing. For this reason, SEBI is reading the need of the government in this matter so that it can help in getting information from foreign regulators. In fact, SEBI is facing a lot of difficulty in getting the details of those people who got the benefit of the money sent by the FPI. According to a Business Standard report, the market regulator may refer the matter to the ministries as some offshore regulators are reluctant to provide the sought information citing privacy reasons.
Information not received from these countries
According to the report, SEBI has written letters to the regulators of several countries including Bermuda, Luxembourg and Switzerland seeking detailed information about FPIs, but no response has been received from the countries. Now Law Enforcement Agencies of India can consider the option of Letter Regulatory and MLAT to get the details. According to the BS report, SEBI can now use the rights that are available under the information sharing MoU. India is a member of IOSCO, which includes 32 international regulators.