Adani group companies received show cause notice from SEBI, company gave information to stock markets
Adani Group: Adani Enterprises has reported receiving two show-cause notices during the quarter ended March 31. On the other hand, other group companies Adani Ports and Special Economic Zone, Adani Power, Adani Energy Solutions, Adani Wilmar, and Adani Total Gas also informed the stock exchanges about the recent inquiry from SEBI.
Muskan
Follow Us
SEBI has issued show cause notice to six companies of the Adani Group. This notice has been issued to these companies due to alleged violations in related party transactions and violation of listing rules. The group itself has given this information in the regulatory information to the stock exchanges.
Adani Enterprises has disclosed that it was issued two show-cause notices in the quarter that concluded on March 31. Conversely, other group companies Adani Wilmar, Adani Power, Adani Energy Solutions, Adani Ports and Special Economic Zone, and Adani Total Gas also notified the stock exchanges about the latest SEBI inquiry.
Companies have stated, however, that this SEBI notice may have very little effect on their business based on legal advice. Adani Enterprises' auditors have reportedly stated in media reports that they are unable to comment at this time on the situation.
