NEW DELHI, Sept 22: Four Adani Group companies have paid a combined Rs 1.51 crore to settle proceedings initiated by the Securities and Exchange Board of India (SEBI) over alleged disclosure related violations.
According to SEBI, Adani Enterprises failed to disclose a related party transaction in its financial statements for the year ended March 2013. Other companies involved in the proceedings were cited over audit or review reports carrying signatures from auditors whose peer review certifications were not valid.
The settlements were reached without the companies admitting or denying the allegations, according to the regulator.
The proceedings were among a broader set of cases examined by SEBI following allegations made against the Adani Group in 2023. The group has previously denied the allegations.
SEBI’s announcement concerns the specific disclosure and audit-related proceedings settled by the companies and does not represent a conclusion on other investigations involving the group.