Billionaire Gautam Adani settles long-running shareholding case
This removes one of the longest-running regulatory overhangs on the ports-to-power conglomerate.
Billionaire Gautam Adani and several members of his family, along with companies founded by him, have settled a long-running shareholding case with India’s market regulator, SEBI. The settlement, which occurred on September 28, involved Adani Energy Solutions, Adani Power, Adani Enterprises, and Adani Ports and Special Economic Zone, as well as their 14 directors, paying 14.8 million rupees (S$196,840) to resolve the case without admitting or denying the findings of the probe.
The investigation began in 2020 over investments by global portfolio investors that the regulator suspected may have been structured to bypass Indian public shareholding rules, which limit founders' stakes in listed companies to a maximum of 75%. The settlement helps clear one of the longest-standing regulatory overhangs on the conglomerate, which spans multiple sectors including energy, ports, and infrastructure.
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- SEBI rejects charge of minimum public shareholding violation by Adani Group companies thehindubusinessline.com
