Gautam Adani News: SEBI Issues Show-Cause Notice to 6 Subsidiaries of Adani Group

Business News: Market regulator SEBI has issued a show-called notice to 6 companies of Gautam Adani’s Adani Group including Adani Enterprises. This notice has been issued on the violation of the rules of transactions and listing regulations. Apart from ADANI Enterprises, this notice has been issued to ADANI Ports and Special Economic Zone, ADANI Energy, ADANI Power, ADANI Wilmar, and ADANI Total Gas. 

Adani-Hindenburg Case 

The notice has been issued after the allegations made by Hindenburg Research. In January 2023, Hindenburg Research made many allegations about Gautam Adani’s group regarding money laundering and share manipulation. On August 25, SEBI gave a report of 22 out of the 24 cases going on in ADANI Group. After the Hindenburg case, there was a huge decline in all the stocks of ADANI Group.