New Delhi [India], April 20 : Rajya Sabha MP Priyanka Chaturvedi on Thursday wrote a letter to SEBI chairman seeking details that the market regulator had initiated against some of the compes of Ad group.
The member of Parliament on Thursday said in her tweet, "It's only fair the investors know the outcome."
The letter written to the Securities and Exchange Board of India (SEBI)'s Chairman, Madhabi Puri Buch, reads, "This letter is in reference to my earlier letter dated 3rd February, 2023, regarding alleged irregularities by the Ad Group."
The letter posted by the MP on a social media website also said: "The SEBI has initiated investigations against some compes of the group in 2021. However, no closure report has been filed, nor any reasons for the delay have been apprised by the regulators. The details of the investigation and reason for the delay in completion of the investigation must be apprised to the general public."
It also said: "The regulator must also look into the allegations of related entities mpulating the stock prices."
She said, "As a public representative, I hereby again request you to disclose the status of the investigation and consequent findings to the general public so as to ensure transparency and investor confidence..."
On March 2, the Supreme Court set up an expert committee amid the controversy arising out of a report by US short-seller Hindenburg Research on the Ad Group. It directed SEBI to investigate whether there has been a violation of Section 19 of SEBI rules and any mpulation of stock prices.
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