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Listen to this article in summarized format In a separate settlement order, the regulator said, four Adani Group companies, chairman Gautam Adani and 13 others have settled a case with it over alleged violations of MPS norms by paying a total settlement amount of ₹1.48 crore. This is the third settlement order this month by Sebi involving the Adani Group. The settlement covers proceedings against Adani Enterprises, Adani Power, Adani Ports and Special Economic Zone, and Adani Transmission, now known as Adani Energy Solutions, along with their directors and other senior officials. Read more: Gold tumbles 4% to seven-week low as oil, dollar and yields climb Sebi had received complaints during June and July 2020 alleging, non-compliance with MPS norms by certain listed companies in the Adani group. Based on its preliminary examination, the investigation started on October 23, 2020. Subsequently, Sebi issued a show-cause notice in September 2024, followed by a supplementary notice in March 2025. The main allegation in this case has been the violation of MPS requirement which mandates minimum 25% public shareholdings. It was alleged that the investments made by two foreign portfolio investors EIFF (Emerging India Focus Funds) and EMR (EM Resurgent Fund) in the shares of Adani Enterprises, Adani Power, Adani Ports and Special Economic Zone and Adani Transmission, now Adani Energy Solutions and and Opal in the share of Adani Power were made at the direction of Vinod Adani and was controlled by him. Read more: Motilal Oswal sees 4 factors boosting risk-reward after market’s sharp fall from 2024 high, lists 27 stock picks The regulator in its show cause notice had alleged an aggregate wrongful gain of about ₹1,984 crore earned through the investment structure. The regulator said the allegations of MPS and fraudulent trading violations against the 12 individuals and entities covered by the proceedings had not been established. Sebi said there was insufficient evidence to establish that Vinod Adani exercised effective control over two foreign portfolio investors (FPIs) that held shares in Adani Enterprises, Adani Power, Adani Ports and Special Economic Zone and Adani Transmission, now Adani Energy Solutions. It has alleged that the investments made by Emerging India Focus Funds (EIFF) and EM Resurgent Fund (EMR) between June 2013 and June 2018 were not genuine public shareholding, but were effectively controlled by Vinod Adani and should therefore have been treated as promoter-group holdings. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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