Business EconomyPosted at: Sep 29 2026 3:16PM


SEBI clears 4 Adani Companies of violating minimum public shareholding violation norms

Mumbai, Sep 29 (UNI) Stock market regulator Securities & Exchange Board of India (SEBI) has cleared Adani Group Chairman Gautam Adani and four Adani Group companies of charges of alleged violations of minimum public shareholding (MPS) norms by paying a one-time settlement amount of Rs 1.48 crore.
The four companies are Adani Enterprises Ltd, Adani Power Ltd, Adani Ports & Special Economic Zone Ltd as well as Adani Transmission Ltd, which is now known as Adani Energy Solutions Ltd, along with their directors.
Legal proceedings were initiated against the companies after the SEBI received complaints in June and July 2020 alleging violations of minimum public shareholding (MPS)
The SEBI initiated an investigation on October 23, 2020 and issued a show-cause notice to the companies on September 27, 2024, followed by a supplementary show-cause notice on March 3, 2025.
The SEBI’s show-cause notices alleged violations of minimum public shareholding (MPS) norms prescribed under the Securities Contracts (Regulation) Rules, the erstwhile Listing Agreement and SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations.
After legal proceedings against the Adani Group companies were initiated, the Adani Group companies proposed to settle the proceedings without admitting or denying the facts and conclusions of law.
SEBI’s Internal Committee and High-Powered Advisory Committee considered the proposals made by the four Adani Group companies, which were subsequently approved by its committee of whole-time members on August 13, 2026.
As per the settlement order passed on Monday, September 28, the four Adani Group companies paid a total settlement amount of Rs 1.48 crore, after which the SEBI passed an order that legal proceedings arising from the show cause notice and supplementary show cause notice be disposed of.
Under the settlement, each of the four Adani Group companies agreed to pay Rs 37.05 lakh jointly and the amounts were paid on August 26, 2026.
Accordingly, the SEBI disposed of the proceedings and decided not to pursue further enforcement action for the alleged violations.
However, the SEBI has retained the power to revive proceedings in case of false representations, breach of settlement undertakings, or any discrepancy in settlement terms.
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