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Adani firms pay Rs 1.5 crore to settle Sebi probes
Livemint··4d ago
Five Adani Group companies paid a combined Rs 1.5 crore to settle Sebi proceedings linked to disclosure and audit-report issues after the Hindenburg report review. The Tuesday settlement covers Adani Enterprises, Adani Total Gas, AWL Agri Business, Adani Green Energy and Adani Energy Solutions. They settled without admitting or denying the allegations. Sebi disposed of the February 2024 show-cause notice.
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What It Means For You
- The settlement ends the listed Sebi adjudication proceedings for a combined Rs 1.5 crore payment.
- Sebi can reopen action if settlement statements are later found false or conditions are breached.
- The companies settled without admitting or denying the allegations.
What's Happening
- Five Adani Group firms paid the settlement amount under a Tuesday Sebi order.
- Issues included related-party disclosure gaps and audit reports signed without a valid peer review certificate.
- The proceedings grew from a February 2024 show-cause notice after review linked to the Hindenburg report.
Which Companies Were Covered
- The order names Adani Enterprises, Adani Total Gas, AWL Agri Business, Adani Green Energy and Adani Energy Solutions.
- For Adani Enterprises, Sebi flagged related-party transactions involving Adani Estates and Vakoder Investment in FY13.
- Peer-review certificate issues spanned reports between 2015 and 2021 across the listed firms.
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