SEBI has disposed of adjudication proceedings against five Adani Group companies for disclosure and corporate governance lapses, accepting settlements totalling over ₹1.5 crore without admission of guilt.
SEBI Concludes Settlement Proceedings Against Adani Group Firms
Securities and Exchange Board of India (SEBI) has disposed of adjudication proceedings against five entities of the Adani Group — Adani Enterprises Ltd, Adani Ports and Special Economic Zone Ltd, Adani Power Ltd, Adani Total Gas Ltd, and Adani Green Energy Ltd — after they agreed to settle allegations of disclosure and corporate governance violations. The total settlement amount exceeds ₹1.5 crore. The entities neither admitted nor denied liability as part of the settlement under SEBI’s settlement scheme.
The violations pertained to failure in making timely and accurate disclosures under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including non-disclosure of material events and related-party transactions. SEBI found that the companies had breached their continuous disclosure obligations, which are critical for market integrity and investor protection. The regulator emphasized that adherence to corporate governance norms is mandatory for listed entities.
“The consent terms are accepted, and proceedings are disposed of accordingly,”stated the SEBI order. Practitioners should note that SEBI continues to actively enforce listing compliance, and the settlement route offers a mechanism to resolve proceedings without protracted litigation, albeit with financial terms. Companies must ensure robust internal compliance mechanisms to prevent recurrence of such lapses.
