As per a media report, the Securities and Exchange Board of India (Sebi) has approached the Organized Crime and Corruption Reporting Project (OCCRP) for having access to the major documents into the Adani-Hindenburg matter, to investigate further on the issue.
The documents that have been asked by the SEBI are the ones that OCCRP had previously documented in a report on the conglomerate.
If reports are to be believed then the OCCRP has declined to provide the documents to SEBI.
The OCCRP is a network of investigative reporters supported by entities like the United States Department of State and George Soros
Even before the Supreme Court began hearing, the Sebi’s initiated the first move and asked OCCRP for report on the same.
The regulator reached out to OCCRP after a group of investigative journalist in August 31 released a report alleging the Adani conglomerate routes fund to foreign individuals to invest in its own shares through Mauritius-based platforms.
As per the OCCRP, advocate Prashant Bhushan who has been representing one of the petitioners in the Adani group, has access to some of the documents. The organization noted that Bhushan had tweeted a key document on September 1, revealing that Sebi was warned by the Directorate of Revenue Intelligence (DRI) in 2014 about alleged stock manipulation, the report added.
The DRI had send an alert to former SEBI chairman UK Sinha, in the year 2014 about Adani of siphoning off money by overvaluing power equipment imports and investing them in listed companies via entities in Mauritius and Dubai.
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