Gautam Adani, 4 group firms settle with Sebi in minimum public shareholding violation case

NEW DELHI: Adani Group chairman Gautam Adani, four group companies and 13 others have settled proceedings with the Securities and Exchange Board of India (Sebi) over alleged non-compliance with minimum public shareholding (MPS) requirements by paying a combined Rs 1.48 crore, according to a settlement order passed by the regulator on Monday.The settlement covers Adani Enterprises Ltd, Adani Power Ltd, Adani Ports and Special Economic Zone Ltd (APSEZ), and Adani Transmission Ltd, now known as Adani Energy Solutions Ltd, along with their directors and certain other officials.Under the settlement terms, each of the four groups was required to pay Rs 37.05 lakh jointly and severally, taking the total settlement amount to Rs 1.482 crore.