Sebi begins inquiry into alleged false statements by Adani Group
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Mumbai: The Securities and Exchange Board of India (Sebi) has launched an inquiry into US allegations against Adani Group, concerning false statements made to Indian stock exchanges, specifically with regard to information about US investigations not being disclosed, said people with knowledge of the matter. The regulator has sought information from stock exchanges regarding Adani Green Energy's communications on US investigations, they said, and will consider launching a formal probe after receiving the reports from the bourses. American authorities indicated the Ahmedabad-based conglomerate made incorrect statements about an investigation into potential US anti-corruption law violations, whilst attributing these matters to external entities. Adani Group has denied any violations and said it is seeking legal remedies. Sebi is examining potential disclosure rule violations by the conglomerate for not sharing important price-sensitive ...