The Securities and Exchange Board of India (SEBI) has concluded adjudication proceedings against five Adani Group entities, following an examination into alleged related-party transaction (RPT) disclosures and corporate governance concerns. The five companies have collectively paid a settlement amount of ₹1,50,80,000.
This settlement allows the Adani Group entities to resolve the matter without admitting or denying the findings of fact or conclusions of law presented by the market regulator.
Background to the Proceedings
The proceedings were initiated by SEBI after scrutinizing allegations highlighted in the Hindenburg report. The regulator investigated potential violations of disclosure and listing requirements, as well as provisions under the erstwhile Listing Agreement, SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, and the Securities Contracts (Regulation) Act.
Entities and Settlement Amounts
SEBI had initiated adjudication proceedings against the following Adani Group companies, each paying a specific amount as part of the settlement:
- Adani Enterprises Ltd (AEL): ₹76.05 lakh
- Adani Total Gas Ltd (ATGL): ₹9.75 lakh
- AWL Agri Business Ltd: ₹9.75 lakh
- Adani Green Energy Ltd (AGEL): ₹45.50 lakh
- Adani Energy Solutions Ltd: ₹9.75 lakh
The total sum paid by these five entities amounts to ₹1.508 crore, bringing an end to the regulatory proceedings concerning these specific allegations.