Five companies of Adani Group have resolved the ongoing legal proceedings with SEBI. For this, Adani Group companies have paid a total settlement amount of Rs 1.5 crore. The case pertained to violation of rules related to disclosure of related-party transactions, audit and limited review reports. According to SEBI’s settlement order, the entire proceeding was based on the investigation initiated after a report by Hindenburg Research, an American short-selling firm that was defunct in January 2023. What were the allegations against Adani Group? The entire matter was related to non-disclosure of related-party transactions and getting the report signed by an audit firm with an invalid peer review certificate. Non-disclosure of RPT: Adani Enterprises Limited (AEL) was accused of not disclosing the RPT between its subsidiary Adani Estates Private Limited and its related-party Vacoder Investment Limited in its annual report for FY13. Signed without peer review certificate: AEL’s FY15 audit report and limited review report for the June 2015 quarter were signed by an audit firm that did not have a valid peer review certificate. Apart from this, the limited review reports for the June 2017, September 2017 and December 2021 quarters were also similarly signed by the firm without peer review certificate. Allegations against other 4 companies: Adani Total Gas, AWL Agri Business, Adani Green Energy and Adani Energy Solutions were also accused of getting limited-review or audit reports signed from audit firms without valid peer review certificates. SEBI had sent show-cause notice in February 2024. SEBI had issued show-cause notice to these companies in February 2024. In this, the companies were asked why investigation should not be done against them for violation of rules and why penalty should not be imposed. During the pendency of the proceedings, these Adani Group companies had proposed a settlement without admitting or denying the findings of fact and consequences of law. Recommendation was made in June 2026, approval received in August. SEBI’s High Powered Advisory Committee had recommended the terms of settlement in June 2026. After this, on August 13, the panel of whole time members accepted it. After receiving the settlement amount, SEBI issued a formal order in this regard. Relief was given from Hindenburg’s allegations in September 2025. In January 2023, Hindenburg Research had released a report against Adani Group. It was alleged that companies like Edicorp Enterprises, Milestone Tradelinks and Rahwar Infrastructure were used to route funds to Adani Power and Adani Enterprises. However, in September 2025, SEBI had completely freed Gautam Adani and his group from the charges of stock manipulation. SEBI’s investigation did not find any evidence to prove that the group had used related parties to route money to its listed companies. What is RPT and Peer Review Certificate? Also read this news… Government will not put a cap on air fares during festivals: Naidu said – advised airlines to keep rates reasonable, ATF becomes expensive due to West Asia crisis. If you are planning to go home by flight or travel during the festival season, then this news is very important for you. Civil Aviation Minister Rammohan Naidu on Tuesday said the government will not impose any upper limit or cap on air fares during the festive season. Read the full news…
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Adani’s 5 companies settle case with SEBI: Pay ₹1.5 crore for violation of transaction and audit norms; settled without penalty
