Ramesh said, these funds have been accused of “stock parking” — being fronts for benami Adani investments in their own companies in violation of SEBI rules.”The two funds have reportedly offered to settle the matter without admitting guilt and paying a token fee, which is the course of action most convenient for Modani,” the Congress leader said.In December 2022, 98.78 per cent of the India Opportunities Fund was invested in three Adani Companies, while in June 2022, 93.9 per cent of Vespera was invested in Adani Enterprises, he said.”SEBI’s actions might appear on the surface to represent progress, but the fact is that the Supreme Court had required this investigation to be completed in two months, but it has dragged on for more than two years.The only people who have benefited from this delay are Modani,” Ramesh said.
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