Four Adani Group firms, directors settle MPS case with SEBI for ₹1.48 crore

Four Adani Group companies and their directors have settled proceedings with the Securities and Exchange Board of India over alleged violations of minimum public shareholding requirements, with the applicants paying a combined ₹1.48 crore.The settlement covers Adani Enterprises, Adani Power, Adani Ports and Special Economic Zone , and Adani Transmission, now known as Adani Energy Solutions, along with their respective directors.SEBI had initiated an investigation in October 2020 following complaints received in June and July that year alleging non-compliance with MPS requirements by certain Adani Group companies.Following the investigation, the regulator issued a show-cause notice in September 2024, alleging that the companies and persons responsible for them had failed to comply with MPS requirements under the Securities Contracts Rules, the Listing Agreement and SEBI’s Listing Obligations and Disclosure Requirements Regulations.A supplementary show-cause notice was issued in March 2025, placing additional material on record in relation to the allegations.Under the settlement…