Adani Group Faces SEBI Scrutiny Over Shareholder Classification

Adani Energy Solutions Ltd received a notice from SEBI alleging improper categorization of some investors as public shareholders. In response, the company plans to provide clarifications to regulatory authorities. This action follows earlier notices to several Adani firms amid allegations of corporate wrongdoing.

Adani Energy Solutions Ltd (AESL), a part of the Adani Group, has received a notice from the Securities and Exchange Board of India (SEBI) over allegedly misclassifying certain investors as public shareholders.

The company, in its recent earnings report, mentioned it would address SEBI's concerns by submitting necessary information and clarifications.

This notice forms part of broader scrutiny on Adani firms, initiated after Hindenburg Research accused the conglomerate of corporate malpractice, affecting their stock market valuation. Although most Adani stocks have since rebounded, SEBI's investigations continue.

(With inputs from agencies.)