Adani Firms Settle SEBI Proceedings

Five Adani Group companies have settled proceedings with the Securities and Exchange Board of India (SEBI) over alleged lapses in the disclosure of related party transactions and certain audit compliance issues. The companies Adani Enterprises, Adani Total Gas, AWL Agri Business, Adani Green Energy and Adani Energy Solutions collectively paid ₹1.508 crore to settle the proceedings. The settlement was finalized on Tuesday, with the companies neither admitting nor denying the findings.

The proceedings followed SEBI’s examination of allegations and corporate governance concerns highlighted in the Hindenburg Research report. According to the settlement order, Adani Enterprises paid ₹76.05 lakh, Adani Green Energy ₹45.50 lakh, while Adani Total Gas, AWL Agri Business and Adani Energy Solutions paid ₹9.75 lakh each. The matters included alleged non disclosure of certain related party transactions and instances involving audit or review reports signed without valid peer-review certification.

The settlement brings these specific adjudication proceedings to an end, but it should not be interpreted as SEBI clearing every allegation made in the Hindenburg report. SEBI has separately issued orders in other Hindenburg linked matters, including proceedings concerning transactions involving Adani related entities. The Adani Group has previously denied the allegations raised by Hindenburg.