Adani Group Faces SEBI Scrutiny

  •  Seven Adani Group companies received notices from the Securities and Exchange Board of India (SEBI) for potential regulatory violations.
  • The notices were issued in Q4 of FY24.
  • Companies involved include Adani Enterprises, Adani Green Energy, Adani Power, Adani Wilmar, Adani Total Gas, and Adani Energy Solutions. Adani Ports received the notice earlier in FY24.
  • The specific violations haven't been disclosed, but SEBI notices typically address issues like related-party transactions, non-compliance with listing rules, or auditor certificate validity.
  • SEBI's investigation began in 2020 and gained momentum after allegations of impropriety by Hindenburg Research in January 2023.
  • The Adani Group has denied these allegations.
  • Potential consequences of SEBI action could include monetary penalties or restrictions on participation in capital markets.

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