Adani Group Companies Are Being Investigated
Adani Group companies are being investigated, companies are accused of violating the rules.
Capital markets regulator SEBI and Directorate of Revenue Intelligence (DRI) are probing some of the Adani Group companies.
These companies are accused of violating the rules. Minister of State for Finance Pankaj Chaudhary gave this information in the Lok Sabha on Monday.
However, he did not give any information about the names of the companies under investigation or the type of rules violated.
He also said that the Enforcement Directorate (ED) is not investigating the group companies.
After the government gave this reply in the House, the shares of six companies belonging to the Adani Group fell by 1.1 to 4.8 percent.
In this regard, a spokesperson of Adani Group said that the group has always been in compliance with SEBI norms and it is not aware of any investigation by the market regulator in the recent past.
As far as the investigation by the DRI is concerned, a show-cause notice was received from the investigating agency five years ago.
Although the agency did not find any wrongdoing in the investigation, the dispute related to it is sub-judice in the court.
Last month, there was a huge sell-off in some of the Adani Group companies after reports of freezing of accounts of three Foreign Portfolio Investors (FPIs) who had made huge investments in those companies also happened on June 18.
However, later the group had completely denied the news of the freezing of investors’ accounts.
HDFC Life Chairman, Deepak Parekh said – Life insurance companies should be allowed to sell pensions, health insurance policies.
Regulators in the country should allow life insurance companies to sell pension and health insurance policies. This will increase the penetration of insurance in the country.
HDFC Life Chairman Deepak Parekh said this on Monday. Parekh was addressing the shareholders at the company’s annual general meeting.
During which he said that today insurance companies can sell life insurance policies only through their branches and employees. They cannot sell NPS or health insurance under the National Pension System.
He said that both pension and health cover are part of life insurance and it is so across the world.
The reason for this is that pension provides good support to people after retirement, whereas health insurance protects them from the risk of expenses on illness.
Therefore, allowing life insurers to distribute products like NPS health insurance, will help increase the reach of insurance across the country.
