MUMBAI: An investigation of India’s Adani group by the market regulator has uncovered violations of rules on disclosures by listed entities and limits on the holdings of offshore funds, two sources with direct knowledge of the matter said.
The Securities and Exchange Board of India (Sebi) launched the inquiry after US-based Hindenburg Research raised governance concerns around the Gautam Adani-led group, shaving more than $100 billion from the market value of its companies.
The ports-to-power conglomerate had denied wrongdoing in January.
