Indian market regulator to update finance minister on Adani probe this week, sources say
India's market regulator will provide an update on its investigations into the Adani Group's withdrawn follow-on public issue this week, two sources familiar with the matter said on Monday.
The board of the Securities and Exchange Board of India (SEBI) is scheduled to meet Finance Minister Nirmala Sitharaman on Feb. 15, the sources said, speaking on condition of anonymity as they are not allowed to speak to the media.
SEBI's board will brief the finance minister on surveillance measures taken by the regulator during the recent rout in Adani group stocks, the sources said.
The Indian conglomerate's listed entities have lost more than $100 billion in market value since a scathing report by a U.S. short seller in late January.
An update on investigations into offshore fund flows into Adani Group entities is also likely, the sources added.
SEBI did not respond immediately to a Reuters email for comment.