Adani clarifies about SEBI & DRI investigation by issuing a media statement
Ahmedabad, July 19, 2021: With reference to the news item about the investigation by SEBI in Adani Group companies with respect to the compliance of SEBI Regulations. Further, the reports also refers to the DRI investigation. In this respect, we would like to clarify as under and request you to attribute the same to the Adani Group Spokesperson:
“We have always been transparent with all our regulators and have full faith in them. While we have always been fully compliant with applicable SEBI regulations, we have made full disclosure to SEBI on specific information requests from them in the past. However, we have not received any communication or information requests recently.
With regard to DRI matter, it issued a show cause notice to Adani Power, about 5 years back. Subsequently, DRI passed an order in favour of Adani Power confirming that there is no over-valuation of equipment. The department has approached the Tribunal and the matter stands sub judice now.
Adani Group is a responsible corporate citizen and strongly believes in compliance of applicable laws and adheres to prudent corporate governance framework.”