Adani Energy gets Sebi notice over alleged wrongful categorisation of shareholders
Adani Group's power transmission arm Adani Energy Solutions Ltd (AESL) on Tuesday said it has received a notice from Securities and Exchange Board of India (Sebi) alleging wrongful categorisation of certain investors as public shareholders. The company in its filing to exchanges has said that it will respond to regulatory and statutory authorities by providing relevant information/clarifications.
«During the current quarter, an SCN (show-cause notice) has been received alleging wrongful categorization of shareholding of certain entities as public shareholding and consequences therefrom,» AESL said. «The company will respond to the regulatory and statutory authorities by providing information, responses, documents and/or clarifications, as applicable, in the due course of time.»
The disclosure was made by the company on Tuesday in its September quarter earnings.
The group's renewable energy firm, Adani Green Energy Ltd, which also declared its second quarter earnings, did not receive any new notice from SEBI.
SEBI's listing rules mandate listed firms to have a minimum of 25% of equity owned by public investors. Foreign portfolio investors having links to the promoter group are generally clubbed as promoter holding.
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