Economy
SEBI clears Vinod Adani of violating shareholding norms
The Hindu35m
THE BRIEF
1
SEBI concluded that allegations of "effective control" by Vinod Adani over specific foreign portfolio investors were not established, clearing him of violating shareholding norms.
2
The regulator stated that Vinod Adani's role regarding the investment entities was advisory and based on non-binding agreements, which does not constitute legal control.
3
Gautam Adani and other listed group entities settled the matter by paying a collective penalty of ₹37 lakh each without admitting or denying the allegations.