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Introduction:
The Adani Group’s CFO recently mentioned that the SEBI notices have been sent to half a dozen of its listed companies. The notices are trivial and procedural and not because of any allegations against the Adani Group. He has also mentioned that the conglomerate is compliant with all the necessary regulations and highly focused on maintaining complete transparency while carrying out its business operations.
SEBI Notices Sent To Adani Companies:
As per recent news, 7 out of the 10 Adani-listed firms have received show-cause notices from the Security and Exchange Board of India. The notices were released at a time when the Adani Group is carrying out all its business operations with full force. However, as per the Chief Financial Officer, Jugeshinder Singh, all these notices are either trivial or procedural. None of the notices are related to any kind of malpractice. Instead, the Adani Group is fully compliant with all the regulations.
The CFO has mentioned that if there were any chances of wrongdoing, then it would have come to light already. The group’s flagship, Adani Enterprises Ltd, renewable energy firm Adani Green Energy Ltd (AGEL), and city gas distributor Adani Total Gas Ltd mentioned that SEBI had sent notices to their parent or holding company controlled by the Adani Group. APSEZ, Adani Power, Adani Energy Solutions, and Adani Wilmar said they had received SEBI notices as well.
The firms have stressed that there is no non-compliance with the regulatory laws and regulations, and everything is in order. The conglomerate’s cement companies have not received any kind of notice from SEBI. There were no open matters related to them, and no non-compliance issues were found either. In fact, even when the Adani CBI Investigation was ongoing, no proof was found against the Adani Group.
The Adani Hindenburg Crisis:
The SEBI notices were part of the probe that followed the US short-seller Hindenburg Research’s allegations against the Adani Group early in 2023. There were many accusations against the Adani Group related to stock manipulation and account fraud. All these were related to the Hindenburg research, which was published in January 2023. This report caused a massive blow to the Adani Group’s business. Its share values began to come down. The company’s profitability also decreased significantly.
This was one of the biggest blows received by the Adani Group on its journey towards success. It led to severe disruptions in its business operations. However, the business group did not stop. Instead, it continued to do its work in its various fields of operations. The allegations were so strong that the Supreme Court even called the SEBI to probe the charges against the Adani Group. The SEBI continued to investigate the cases thoroughly. There was an Adani CBI Investigation as well.
The Recovery Made:
Even after months of investigation, no such strong evidence was found against the Adani Group. As a result, the Supreme Court called the SEBI to drop charges against the Adani Group. This caused the company’s profitability to bounce back to its initial position. It once again started to operate with full force. The conglomerate’s business operations also reached new heights within a very short period. All its share values began to rise. This included the shares purchased by foreign companies like GQG Partners, IHC, and Qatar Investment Authorities. As a result, the companies achieved maximum return from the investment.
Not just foreign companies but many other companies also observed enormous profitability. They were once again back to working with the Adani Group of companies. Because of the increase in cash flows, the Adani Group was able to make investments in diverse business sectors and achieve new milestones. Today, it has once again risen to the position of being one of the most prosperous global conglomerates.
Conclusion:
In this way, even with the Adani CBI Investigation ongoing, the Adani Group never fails to do its part for society. In the coming years, the conglomerate will also continue to show immense resilience, leading our country to success.
