Adani Group Denies Receiving SEBI Notice

Adani Group has denied receiving any communication from SEBI

The Adani Group has not obtained any communication from Securities and Exchange Board of India (SEBI) lately and Directorate of Revenue Intelligence (DRI) show-cause discover was issued 5 years again, mentioned an organization spokesperson on Monday, issuing clarification about market regulator and customs authorities investigation in a number of corporations belonging to the group.

Read also: Development of the Packers and Movers App

Earlier right now, in a written response to Parliament, the Government has mentioned a number of Adani Group corporations are being investigated by the SEBI and DRI.

"We have always been transparent with all our regulators and have full faith in them. While we have always been fully compliant with applicable SEBI regulations, we have made full disclosure to SEBI on specific information requests from them in the past," the spokesperson mentioned.

Read also: How Bulk Buying Changes the Economics of a Growing Business

However, they added that Adani Group has not obtained any communication or data requests lately.

Read also: The AI Boom Is Still Paying Off for the Companies Selling the Infrastructure

With regard to the DRI matter, the Spokesperson mentioned the investigation company issued a show-cause discover to Adani Power, about 5 years again.

"Subsequently, 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," they mentioned including, "Adani Group is a responsible corporate citizen and strongly believes in compliance of applicable laws and adheres to prudent corporate governance framework."