Adani Group Cleared Of Minimum Public Shareholding Violation Charges By SEBI

Adani Group chairman Gautam Adani, four group companies and 13 others on Monday were cleared of proceedings initiated by markets regulator Sebi over alleged violations of minimum public shareholding (MPS) norms by paying a settlement amount of Rs 1.48 crore. The clearance covers Adani Enterprises Ltd, Adani Power Ltd, Adani Ports and Special Economic Zone Ltd, and Adani Transmission Ltd, now known as Adani Energy Solutions Ltd, along with their directors. The proceedings stemmed from complaints received by Sebi in June and July 2020 alleging non-compliance with MPS requirements by certain listed Adani Group companies.