{
  "id": 3041697,
  "title": "India rejects Adani-linked offshore funds' requests to settle non-disclosure cases, sources say",
  "url": "https://urgent.news/2026/08/24/india-rejects-adani-linked-offshore-funds-requests-to-settle-non",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T14:31:53.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40436320/india-rejects-adani-linked-offshore-funds-requests-to-settle-non-disclosure-cases-sources-say"
  },
  "original_language": "en",
  "account": "India's markets regulator, the Securities and Exchange Board of India (SEBI), has rejected applications from three Mauritius-based funds associated with the Adani Group to settle non-disclosure cases. The offshore funds, which hold investments in the Adani Group, were seeking to resolve regulatory violations involving the failure to disclose shareholder details, according to two sources familiar with the matter.\n\nThe Adani Group has been under investigation by SEBI since 2023, following allegations made by Hindenburg Research of improper use of tax havens by the conglomerate. The investigation was prompted by a stock selloff and has resulted in the group denying any wrongdoing, while its shares have since recovered.\n\nIndian regulations mandate that at least 25% of a listed company's shares be held by public shareholders. However, Hindenburg alleged that some offshore funds with Adani company holdings were in violation of these rules. SEBI found two of the 13 offshore funds breaching the regulations when they failed to disclose their acquisitions of certain Adani stocks exceeding 5% and impeded investigations.\n\nIn the proposed settlement, SEBI sought details of the funds' shareholders. However, the offshore investors opposed this condition. As a result, SEBI rejected the applications of at least three more offshore investors after disagreements with the regulator over the monetary fine sought for settlement. The names of the funds could not be determined by Reuters, and SEBI declined to comment on the matter.\n\nThe proposed settlement would have allowed the funds to resolve the proceedings without admitting or denying the regulator's findings. The cases could now proceed through SEBI's enforcement process, which may include disclosure of regulatory findings, license suspension in India, and monetary penalties.",
  "summary": "MUMBAI: India’s markets regulator rejected applications last week from at least three Mauritius-based funds with investments in the Adani Group to settle cases of regulatory violation involving failure to disclose their shareholder details, two sources with direct knowledge of the matter said. Thirteen of the Adani Group’s offshore investors have been facing an investigation by the Securities and…",
  "key_points": [
    "SEBI rejects 3 Mauritius funds linked to Adani for settling non-disclosure cases",
    "Adani Group investigated since 2023 over alleged improper use of tax havens",
    "Offshore funds violated regulations by not disclosing Adani stock acquisitions >5%"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}