Indian regulators aware of concerns on Adani issue: Finance minister Nirmala Sitharaman

Indian regulators are aware of concerns regarding the Adani Group conglomerate, finance minister Nirmala Sitharaman said today. She was responding to comments by the Supreme Court regarding the need for investor protection.

The regulators were experienced and seized of the matter, Nirmala Sitharaman told reporters after meeting the central bank's directors in New Delhi, the capital.

"Indian regulators are very, very experienced and they are experts in their domain. The regulators are seized of the matter and they are on their toes as always not just now," she said.


She, however, declined to elaborate on what the government planned to tell the Supreme Court.

The Supreme Court of India has sought the government's views on whether the regulatory regime needs strengthening in order to ensure that investors are protected while hearing public interest litigation (PIL) related to the Hindenburg Research report on the Adani Group.

Adani group companies have lost USD 100 billion in market value since the US short-seller Hindenburg Research came out with a damning report alleging fraud at the conglomerate helmed by Gautam Adani. Adani Group has denied all allegations and threatened to sue Hindenburg.