Adani Group denies allegation of non-compliance with SEBI regulations

| Updated: July 19, 2021 6:40 pm

Adani Group companies have denied the allegation of non-compliance with regards to the SEBI regulations. The report also referred to the DRI investigation. In this respect, the Spokesperson from the Adani Group stated:

“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. However, we have not received any communication or information requests recently.

With regard to the DRI matter, it issued a show-case notice to Adani Power, about 5 years back. 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.

Adani Group is a responsible corporate citizen and strongly believes in compliance with applicable laws and adheres to a prudent corporate governance framework. “

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