The Securities and Exchange Board of India (SEBI) is looking into whether the Adani Group violated rules mandating the disclosure of market-moving information, Bloomberg reported citing sources.
Coming as an aftermath of the bribery charges by the US Securities and Exchange Commission (SEC), and a US District Court, the Adani Group stocks lost Rs 2.3 lakh crore in market capitalisation on Thursday.
The party's reaction came after US prosecutors charged Gautam Adani and others in an alleged bribery scam.
Gautam Adani, head of India's Adani Group, his nephew Sagar Adani and six others face charges in the United States in a multibillion-dollar bribery and fraud scheme.
Gautam Adani, Chairman of the Adani Group, on Wednesday announced that the Group commits a $10 billion investment in US energy security and infrastructure projects, aiming to create up to 15,000 local jobs in the country.
The Adani Group’s Mr. Karan Adani informed an Investors’ Summit in Gwalior that the group would start a defence-manufacturing unit worth Rs 2,500 crore in Shivpuri, a cement grinding unit worth Rs 500 crore in Guna, and a jacket manufacturing unit at Badarwas.
This move is linked to a substantial loan facility amounting to Rs 12,770 crore sanctioned by the SBI for the greenfield airport project, according to a report by the Financial Express
The SEBI chief has already denied the allegations in the Hindenburg report as baseless.
In a stock exchange filing, the Group completely rejected these allegations “which are a recycling of discredited claims that have been thoroughly investigated, proven to be baseless and already dismissed by the Honourable Supreme Court in January 2024”.
Her response, Hindenburg said, publically confirms her investment in the obscure Bermuda/Mauritius fund structure, alongside money allegedly siphoned by Vinod Adani, the brother of Adani Group boss Gautam Adani.
