SEBI is investigating Adani’s companies, find out what the matter is

Gautam Adani’s troubles may increase in the next few days. The government told Parliament today that several companies linked to the Adani Group are being investigated. Following this information, shares of Adani Group declined. Let us tell you that Adani Group companies have performed well in the last one year.

What did the Minister say in Parliament?

In a written reply to Parliament on July 19, Union Finance Minister Pankaj Chaudhary said, “SEBI is investigating several companies of Adani Group. It is suspected they are not following the rules. The Directorate of Revenue Intelligence (DRI) is also investigating these companies. The Finance Minister has made it clear that the Enforcement Directorate (ED) is not conducting any investigation. In addition, the government said that SEBI had discontinued Albula Investment Fund Limited, Cresta Fund Limited and APMS Investment Fund in June.

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Adani’s shares fall

Shares of Adani Group companies fell shortly after the news. Adani Enterprises’ shares fell 5%, Adani Power 4%, Adani Port 4% and Adani Transmission fell 5%. At the same time, shares of Adani Total Gas and Adani Green Energy declined.

There have been allegations in the past

It was previously reported that the National Depository Limited (NSDL) has banned three foreign funds. These three funds are worth Rs 43,000 crore in Adani Group. Adani Group’s shares fell even after the news. However, the NSDL and the Adani Group refused the move.

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