As per a media report, the Securities and Exchange Board of India (SEBI) has approached the Organized Crime and Corruption Reporting Project (OCCRP) for gaining access to the major documents in the Adani-Hindenburg matter to investigate the issue further.
The documents that have been asked by the SEBI are the ones that OCCRP had previously documented in a report on the conglomerate.
Reports said 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’ State Department and billionaire George Soros
Even before the Supreme Court began hearing, SEBI initiated the first move and asked OCCRP for reports on the same.
The regulator reached out to OCCRP after a group of investigative journalists in August 31 released a report alleging the Adani conglomerate routed funds to foreign individuals to invest in its own shares through Mauritius-based platforms.
As per the OCCRP, Senior Advocate Prashant Bhushan, who has been representing one of the petitioners in the Adani group case, 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 sent an alert to former SEBI chairman UK Sinha in 2014 about Adani siphoning off money by overvaluing power equipment imports and investing them in listed companies via entities in Mauritius and Dubai.