SEBI rejects settlement bids by Adani-linked funds

SEBI has rejected settlement bids from overseas funds with significant stakes in Adani Group companies, citing their proposed terms as falling short of the regulator's requirements, according to a report by Hindustan Times. The 13 foreign investors, who were part of an investigation into whether they were genuine public shareholders or companies acting for Adani Group founders, were unable to provide the necessary information or resist demands to disgorge money sought by SEBI.

This development adds a new twist to a years-long investigation, which was cited by former short seller Hindenburg Research in its 2023 short-sale report alleging corporate malpractice at the Adani Group. The conglomerate has consistently denied these allegations.

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