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Adani Group clarifies on Sebi, DRI probe over compliance:
Adani Group clarified about India's securities regulator and customs authorities' investigation in ...
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Adani Group responds to SEBI and DRI investigationsIndia’s finance ministry told Parliament that several group companies were under investigation but did not identify them.
Key FactsJul 19, 2021 · Reading time: ~45 sec.
Summary created with AI assistance · Source: livemint.com
Summary created with AI assistance · Source: livemint.com
- India’s Minister of State for Finance Pankaj Chaudhary told Parliament on Monday that SEBI was examining some Adani companies for regulatory compliance but did not name them.
- According to Adani Group, the DRI issued Adani Power a notice about five years ago and later found no equipment overvaluation; after the department approached a tribunal, the matter remains before the courts.
- The company said it had not recently received communications or information requests from SEBI, although it had fully responded to specific requests in the past.
- The finance ministry said six Adani companies were listed on Indian stock exchanges, while their shares closed 1.1% to 4.8% lower on 21 July 2021.
"The Securities and Exchange Board of India (SEBI) is investigating some Adani Group companies with regard to compliance with SEBI Regulations," Chaudhary said, without disclosing the companies involved. "The Directorate of Revenue Intelligence (DRI) is investigating certain entities belonging to the Adani Group," he said.— Pankaj Chaudhary, Minister of State for Finance, in Parliament, replying to questions raised by TMC MP Mahua Moitra.
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SEBI, DRI Probing Adani Group Companies for Non-Compliance of Rules: MoS Finance: The minister, Pankaj Chaudhary, did not name which companies were involved.
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