- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Big trouble for Gautam Adani, SEBI slaps show-cause notice to Adani Power, shares price fall by...
Adani Power stated it is responding to SEBI and providing necessary information and clarifications
Updated : Oct 29, 2024, 02:29 PM IST
 "Big trouble for Gautam Adani, SEBI slaps show-cause notice to Adani Power, shares price fall by...")
TRENDING NOW
)
After Shefali Jariwala's sudden death, her Bigg Boss 13 co-star Rashami Desai makes BIG statement: 'I don't know why...'
)
'9th fail cricketer...': Rinku Singh gets trolled after his appointment as Basic Education Officer by UP govt`
)
Shefali Jariwala's demise: Doctor gives major update in 'Kaanta Laga' girl sudden death, suspects...
)
Elon Musk issues warning to Donald Trump if 'Big Beautiful Bill' passes, says 'PORKY PIG PARTY!! Time for...'
)
Pakistan, China in fear, India to equip Su-30MKI with this Russian missile, it has the ability to..., name is...
)
Meet UPSC topper whose father left him, was raised by mother who worked as loan agent, once wanted to become sanyasi, cleared civil service exam in 5th attempt with AIR..., he is...
)
China's big blow to its friend Pakistan, refuses to give this weapon, Shehbaz Sharif in tension due to...
)
Good news for investors, Mukesh Ambani's Jio Financial Services share price rises after..., stock climbs to...
)
Meet TV's most glamorous villian who got married at 16, became mother at 17, divorced at 18, later became India's top...; her name is...
)
From Kareena Kapoor, Radhika Apte to Shruthi Narayanan: Indian actresses' MMS videos that shook the nation
)
Delhi Metro: DMRC issues fresh advisory for passengers, warns against doing THIS in trains
)
Zerodha's Nikhil Kamath warns about future job market, says 4-yr degree not enough, names one skill to stay relevant, it is...
)
Sarfira box office collection day 1: Akshay Kumar's film registers disastrous opening despite positive reviews, earns...
)
New UPI Rules: limits on balance check..., GPay, PhonePe, Paytm users to see major changes from...
)
Big move by Deepinder Goyal, after food delivery, Zomato co-founder announces entry in this sector, aims to revolutionise...
Gautam Adani’s business empire is under further strain as Adani Power revealed on Monday that it received a show-cause notice from the Securities and Exchange Board of India (SEBI) in the second quarter of the current financial year. This news led to a decline in Adani Power shares, which dropped by as much as Rs 21, or 3.5%, to Rs 578.1 during trading on the Bombay Stock Exchange (BSE).
Later, Adani Power shares were down 2% at Rs 587. Adani Enterprises and Adani Ports also experienced similar declines, with each falling by 2%. Other group stocks, including Adani Green Energy and Adani Total Gas, saw minor drops of about half a percentage point.
The show-cause notice relates to alleged wrongful categorisation of shareholding, which may violate SEBI’s public shareholding rules. Adani Power stated it is responding to SEBI and providing necessary information and clarifications. The company asserts that all its transactions and disclosures are compliant with the law and that there are no material effects on its financial results.
This comes after US-based Hindenburg Research accused the Adani group of financial irregularities, claims the conglomerate has consistently denied.
The notice to Adani Power follows a similar notification received by Adani Energy Solutions, highlighting ongoing regulatory challenges faced by the diversified Adani group.
