The Adani Group denied having received any communication or information requests from the SEBI recently.

Gautam AdaniPTI
Money News Tuesday, July 20, 2021 - 13:09

The Parliament was informed on Monday that some of the companies belonging to Adani group are currently under the investigation of markets regulator Securities Exchange Board of India (SEBI). In a written response to a question in the Lok Sabha on the opening day of Monsoon Session, Minister of State for Finance, Pankaj Chaudhary, said that SEBI is investigating some Adani group companies with regard to compliance with SEBI regulations while the Directorate of Revenue Intelligence (DRI) is also probing certain entities under the laws administered by it. However, Chaudhary added that the Enforcement Directorate is not probing these companies.

In response, the Adani group denied having received any communication or information requests from the SEBI recently. "We have always been transparent with all our regulators and have full faith in them. While we have always been fully compliant with the applicable SEBI regulations, we have made full disclosures to SEBI on specific information requests from them in the past. However, we have not received any communication or information requests recently," an Adani group spokesperson said. 

"With regard to the DRI matter, it issued a show cause notice to Adani Power about five years back. Subsequently, the DRI passed an order in favour of Adani Power, confirming that there is no over-valuation of equipment. 

"The department has approached the Tribunal and the matter stands sub judice now. Adani group is a responsible corporate citizen and strongly believes in compliance with applicable laws and adheres to prudent corporate governance framework," the spokesperson added.

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