November 23, 2024 – The Adani Group has come under the radar of the Securities and Exchange Board of India (SEBI) which has initiated an investigation to determine whether the conglomerate has provided false information thus misleading investors. According to reports, NSE and BSE officials have been asked by SEBI to find out whether Adani Green Energy Limited violated disclosure norms with regard to the U.S. Department of Justice's investigation into bribery allegations.

The stock exchanges have written to the companies asking for relevant information.

The regulatory body also initiated a probe into whether Gautam Adani and his nephew Sagar Adani were named as accused because of delays or lapses in the US probe in which case SEBI may take appropriate action or make recommendation.

Gautam Adani, founder and chairman of the Adani Group, was on November 20, 2024, indicted in the US on charges of bribery and securities fraud. The billionaire has been charged with offering more than $250 million in bribe to Indian officials in exchange for procuring solar power contracts.

The US Court is expected to proceed with the trial, but the official inquiry by SEBI will not begin until significant facts are obtained.