Big blow to industrialist Gautam Adani, 6 companies of the group received notice from SEBI

Adani Group: The country's second richest person and billionaire industrialist Gautam Adani has suffered a big shock. Market regulator SEBI has sent show cause notices to 6 companies of his group. In these notices, companies have been questioned about violation of the rules of listing in the stock market. According to SEBI's notice, all these companies have sent a notice to the company regarding violation of the rules of related party transactions. Related party transactions typically occur between companies that have a pre-existing business relationship or are similar in their business commitments.

These group companies have received notice

SEBI has sent 2 notices to Adani Enterprises, the flagship company of Adani Group. Apart from this, notice has also been sent to Adani Ports and Special Economic Zone, Adani Power, Adani Energy Solutions, Adani Wilmar and Adani Total Gas. It is noteworthy that only 10 companies of Adani Group are listed in the stock market.

Regarding the two notices received by Adani Enterprises, the company says that according to its legal experts, these notices will have very little impact on the company. In SEBI's notice, details of some transactions have been asked from the group companies, which were not reflected in their financial statements. The group has refused to give other details in this matter.

Is there a connection with the report of Hindenburg Research?

Last year, following the order of the Supreme Court following a report by American short seller company Hindenburg Research, SEBI had started investigation against Adani Group companies. SEBI submitted a report regarding this in August. SEBI also investigated 17 related party transactions which were cited in the Hindenburg report.

Gautam Adani is the second richest person in India. According to Bloomberg Billionaires Index, his total net worth is more than $99 billion.