Adani Group, 13 Others Settle Sebi MPS Case for ₹1.48 Crore
Sebi disposes of proceedings linked to alleged minimum public shareholding violations after settlement payment
- Gautam Adani and 17 others settled the Sebi proceedings.
- Four Adani Group companies were covered by the case.
- Applicants paid a total settlement amount of ₹1.48 crore.
- Sebi ordered disposal of the proceedings following the settlement.
GG News Bureau
Mumbai, 29th Sept: Adani Group Chairman Gautam Adani, four group companies and 13 other applicants have settled proceedings initiated by the Securities and Exchange Board of India (Sebi) over alleged violations of minimum public shareholding (MPS) norms by paying a total settlement amount of ₹1.48 crore.
The settlement covers Adani Enterprises Ltd, Adani Power Ltd, Adani Ports and Special Economic Zone Ltd, and Adani Energy Solutions Ltd, formerly known as Adani Transmission Ltd, along with their directors.
The proceedings followed complaints received by Sebi in June and July 2020 alleging non-compliance with MPS requirements by certain listed Adani Group companies.
After a preliminary examination, Sebi initiated an investigation on October 23, 2020. Following the investigation, the regulator issued a show-cause notice on September 27, 2024, and a supplementary notice on March 3, 2025.
The notices alleged violations of MPS requirements under the Securities Contracts (Regulation) Rules, the erstwhile Listing Agreement and Sebi’s Listing Obligations and Disclosure Requirements (LODR) Regulations.
The applicants subsequently proposed settling the proceedings without admitting or denying the facts or conclusions of law.
According to the Sebi order passed on Monday, the applicants paid a combined settlement amount of ₹1.48 crore.
Following the payment, Sebi directed that the proceedings arising from the original show-cause notice and the supplementary notice be disposed of.
