<p>The Congress on Saturday questioned Sebi's move of not acting on money laundering allegations against 'Adani-linked entities' and called for the formation of a joint parliamentary committee to discuss the issue during the special session of Parliament.</p>.<p> Congress general secretary Jairam Ramesh wondered whether Sebi will act now that the Mauritius financial regulator has revoked the licences of two such entities.</p>.<p> He also raised his doubts about the credibility of the Securities and Exchange Board of India, asking why the body has failed to inspire confidence as a fair regulator of capital markets in the country.</p>.<p> Ramesh said that the Financial Services Commission (FSC), the Mauritian equivalent of Sebi, revoked the licences of the controlling shareholder of two Adani-linked funds in May 2022 for violating several laws including the Financial Services Act, the Securities Act, the Financial Intelligence and Anti-Money Laundering Regulations (2003 and 2018), and the Code on the Prevention of Money Laundering and Terrorist Financing.</p>.Congress should boycott Rahul Gandhi and not journalists if it wants to benefit: BJP.<p>"Even as Sebi professes helplessness, ironically Mauritian regulators have taken stringent action against suspect Adani-linked entities," the Congress leader said.</p>.<p> He said Emerging India Fund Management, whose licences were revoked on these grounds, controlled two funds that were 'conduits for Vinod Adani associates Nasser Ali Shaban Ahli and Chang Chung-Ling.' 'Ahli and Chang made dubious investments to Adani companies through these very funds,' he alleged.</p>.<p>"Will Sebi awake from its Modi-made slumber … Why is it failing to inspire confidence that it will act as a fair regulator of capital markets and protect the interests of shareholders," Ramesh asked.</p>.<p>"This is simply more evidence that nothing will happen on the Adani MegaScam unless a JPC is instituted in the special Parliamentary session," he asserted.</p>.<p> The Congress and several other opposition parties have been demanding a JPC probe into the Adani issue claiming that only it can bring out the truth in the matter.</p>.<p> The Congress and other opposition parties of the I.N.D.I.A bloc had earlier stalled proceedings of Parliament demanding a discussion on the issue during the special session of Parliament.</p>
<p>The Congress on Saturday questioned Sebi's move of not acting on money laundering allegations against 'Adani-linked entities' and called for the formation of a joint parliamentary committee to discuss the issue during the special session of Parliament.</p>.<p> Congress general secretary Jairam Ramesh wondered whether Sebi will act now that the Mauritius financial regulator has revoked the licences of two such entities.</p>.<p> He also raised his doubts about the credibility of the Securities and Exchange Board of India, asking why the body has failed to inspire confidence as a fair regulator of capital markets in the country.</p>.<p> Ramesh said that the Financial Services Commission (FSC), the Mauritian equivalent of Sebi, revoked the licences of the controlling shareholder of two Adani-linked funds in May 2022 for violating several laws including the Financial Services Act, the Securities Act, the Financial Intelligence and Anti-Money Laundering Regulations (2003 and 2018), and the Code on the Prevention of Money Laundering and Terrorist Financing.</p>.Congress should boycott Rahul Gandhi and not journalists if it wants to benefit: BJP.<p>"Even as Sebi professes helplessness, ironically Mauritian regulators have taken stringent action against suspect Adani-linked entities," the Congress leader said.</p>.<p> He said Emerging India Fund Management, whose licences were revoked on these grounds, controlled two funds that were 'conduits for Vinod Adani associates Nasser Ali Shaban Ahli and Chang Chung-Ling.' 'Ahli and Chang made dubious investments to Adani companies through these very funds,' he alleged.</p>.<p>"Will Sebi awake from its Modi-made slumber … Why is it failing to inspire confidence that it will act as a fair regulator of capital markets and protect the interests of shareholders," Ramesh asked.</p>.<p>"This is simply more evidence that nothing will happen on the Adani MegaScam unless a JPC is instituted in the special Parliamentary session," he asserted.</p>.<p> The Congress and several other opposition parties have been demanding a JPC probe into the Adani issue claiming that only it can bring out the truth in the matter.</p>.<p> The Congress and other opposition parties of the I.N.D.I.A bloc had earlier stalled proceedings of Parliament demanding a discussion on the issue during the special session of Parliament.</p>