Adani Group Denies Subpoena Reports, Affirms Compliance with Regulations

27 Jun 2023 , 03:29 PM

Adani Group responds to reports suggesting US authorities are investigating the group’s representations to American investors. The group states that their disclosures are public records and no knowledge of any subpoena to US investors.

Inquiries were allegedly initiated by the US Attorney’s office in Brooklyn following allegations made by Hindenburg. Adani Group emphasizes compliance with regulations and accounting standards in the jurisdictions they operate.

An expert committee appointed by the Supreme Court has submitted a report on the matter, highlighting mitigation measures taken by the Adani Group. SEBI is examining certain aspects and Adani portfolio entities are responding to queries.

Adani Group urges to avoid speculation and await SEBI and Supreme Court’s findings. Group reaffirms commitment to robust corporate governance and adherence to applicable laws and regulations. Request for information from US prosecutors doesn’t necessarily indicate impending legal actions.

Adani Group refutes Hindenburg allegations, asserts compliance with laws and disclosure requirements. Supreme Court formed committee of experts to examine stock crash issues related to Hindenburg’s allegations. SEBI instructed to complete ongoing investigation and file a status report within two months.

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