Trinamool leader Mahua Moitra asks SEBI for probe report.

Trinamool Congress MP Mahua Moitra lashed out at Gautam Adani, Founder and Chairman of Adani group, after he declared that his company would withdraw the Rs 20,000 crore follow-on public offer (FPO), which was fully subscribed on Tuesday.

On Monday, the Lok Sabha member had written a letter to market regulator SEBI asking for a status report on its probe into the allegations leveled against the Adani Group companies by the Hindenburg.

On Wednesday, the Adani Group announced that considering current market volatility, the company has decided to withdraw the FPO to protect the interest of its investing community by returning the proceeds.

Taking a swipe at the billionaire, Trinamool MP Moitra tweeted, “Too expensive to buy your own shares at Rs 3,200 when you can buy them from the market at Rs 2,000!”

In her letter to SEBI, Moitra said: “Based on the statement by the Adani Group, it seems that SEBI has completed its investigation in this matter and if the investigation was completed the Adani Group won the matter in the court with all charges dismissed or SEBI discharged them. I would like to understand when was the investigation on the matter was completed? What were the findings? What action was taken? What went to the court? When did it go?”

She further wrote: “If the investigation is not complete, why is it taking so long? When will it be completed? Is this in the best interest of the investors, especially when the Group is doing a 20,000 crore FPO and seeking further retail investor’s monies. Why was this approval given to Adani Enterprises without completing this investigation?”

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