'No Allegations Against Company': Adani Enterprises To Stock Exchanges

In response to queries raised by BSE Limited and NSE following a media report, Adani Enterprises has said it is not a party to the legal proceedings mentioned in the report and that the matter does not trigger any disclosure requirements under India's listing regulations.

Following a Bloomberg report titled "US regulator seeking measures to serve Gautam, Sagar Adani legal summons", the stock exchanges sought the company's response under Regulation 30(11), which requires listed entities to comment on media reports that may impact investor perception or warrant disclosure.

Adani Enterprises replied that it had already addressed similar media queries in a clarification issued on November 21, 2024. "There are no allegations made against the Company in, and the Company is not party to, these proceedings," the company stated in its filing.

The company further said the contents of the media report do not require any disclosure under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The media report cited a Bloomberg story stating that the US Securities and Exchange Commission was seeking court permission to use alternative measures to notify Gautam Adani and Sagar Adani of legal proceedings. The report had noted that it had not independently verified the information.

Adani Enterprises reiterated that the reported developments do not involve the company and do not have any bearing on its disclosures or compliance obligations. The company requested the exchanges to take the clarification on record.