Show-Cause Notice Against These 6 Adani Group Companies By SEBI


Mohul Ghosh

Mohul Ghosh

May 04, 2024


Six companies within the Adani Group have reportedly received show-cause notices from the Securities and Exchange Board of India (Sebi), as revealed in their regulatory filings to the stock exchanges.

Show-Cause Notice Against These 6 Adani Group Companies By SEBI

The notices are in connection with alleged breaches involving related party transactions, violations of listing regulations, and the validity of auditor certificates.

Which Adani Group Firms Are Affected?

Adani Enterprises disclosed receiving two show-cause notices in the quarter ending March 31, with Adani Ports & Special Economic Zone, Adani Power, Adani Energy Solutions, Adani Wilmar, and Adani Total Gas also confirming receipt of similar notices from Sebi.

Possible Impact on Financial Statements

Except for Adani Wilmar and Adani Total Gas, auditors of the affected firms issued a qualified opinion expressing uncertainty regarding potential impacts on financial statements.

Adani Enterprises’ auditors, in their statement to Economic Times, cited ongoing investigations by Sebi as a reason for being unable to assess potential adjustments or disclosures required in financial statements.

Adani Ports and SEZ, in their disclosures, highlighted allegations related to non-compliance with regulatory approvals and disclosure requirements, along with concerns regarding the utilization of security deposits from terminated contracts.


Mohul Ghosh
Mohul Ghosh
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