SEBI settles proceedings against five Adani group firms for ₹1.51 crore

Markets regulator SEBI has settled adjudication proceedings against five Adani group companies for a total payment of ₹1.51 crore over alleged violations relating to related-party transaction disclosures and audit reports.

The settlement covers Adani Enterprises, Adani Total Gas, AWL Agri Business, Adani Green Energy and Adani Energy Solutions, according to a settlement order passed by SEBI's adjudicating officer on Tuesday.

The proceedings stemmed from SEBI's examination into allegations relating to disclosure of related-party transactions and corporate governance issues highlighted in the Hindenburg Report, and possible violations of listing regulations and the erstwhile listing agreement.

Under the settlement terms, Adani Enterprises will pay ₹76.05 lakh, Adani Total Gas ₹9.75 lakh, AWL Agri Business ₹9.75 lakh, Adani Green Energy ₹45.50 lakh and Adani Energy Solutions ₹9.75 lakh.

SEBI said the companies proposed to settle the proceedings without admitting or denying the findings of fact and conclusions of law.

The High Powered Advisory Committee recommended the settlement terms at its June 29, 2026 meeting. The recommendations were accepted by SEBI's Panel of Whole Time Members on August 13.

The companies informed SEBI on September 5 that they had remitted the settlement amounts, and the regulator confirmed receipt of the payments.

With the settlement amounts received, SEBI disposed of the adjudication proceedings initiated through a February 15, 2024 show-cause notice.

The order, however, said SEBI retained the right to take enforcement action, including restoring or initiating proceedings covered by the settlement, if representations made by the applicants are subsequently found to be untrue, undertakings or conditions are breached, or a discrepancy is found in arriving at the settlement terms.