"Matter sub-judice", Centre tells Parliament to query on any 'irregularities' in Adani group financial statements

By Payal Mehta

New Delhi [India], March 27 : Amidst Opposition's relentless push for a Joint Parliamentary Committee (JPC) probe into the Hindenburg-Ad row, the Centre told Lok Sabha on Monday that the matter is pending before Supreme Court and is "sub judice".

In a written reply, Minister of State for Corporate Affairs Rao Inderjeet Singh said the Hindenburg report is with regard to the listed compes of Ad group which fall under the purview of SEBI.

"Further, the Hon'ble Supreme Court is seized of the matter in Writ Petition (C) No. 162 of 2023 and has passed order dated March 2, 2023 constituting an Expert Committee to look into the matter and has directed, inter-alia, to all the agencies of Union Government including agencies connected with financial regulation, fiscal agencies and law enforcement agencies to co-operate with the Committee. The Committee has been ordered to furnish its report before the Hon'ble Court within two months. Hence, the matter is sub-judice before the Hon'ble Supreme Court," the minister said.

He was responding to a question by Congress MP Advocate Adoor Prakash who had asked the Ministry of Corporate Affairs if it has conducted any review on the financial statements and other regulatory submissions of Ad Group of Compes after the Hindenburg report and if any irregularities were found.

The MP from Attingal in Kerala also wanted to know from the government what actions were taken in case if any irregularities were found.

Congress leader Rahul Gandhi has launched a strong attack on the government in the wake of the Hindenburg-Ad row linking the rise of the Ad group to that of Prime Minister Narendra Modi and has alleged that "rules were changed" in some sectors to favour the businessman.

The BJP rejected Congress allegations both inside and outside the House.

Opposition parties have forced repeated adjournments in the two Houses of Parliament over their demand for JPC into the Ad-Hindenburg row.

Congress has said that only a Joint Parliamentary Committee (JPC) can conduct a comprehensive probe into the Ad issue to hold the government accountable and that the Supreme Court committee will be limited to investigation of violations such as of SEBI law and regulations.

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