<p>Several entities linked to the <a href="https://www.deccanherald.com/tags/adani-group">Adani Group</a> have approached the India markets regulator seeking to settle a case that accuses them of violating public shareholding regulations at some listed companies, the <em>Economic Times</em> reported on Tuesday.</p><p>The Securities and Exchange Board of India (<a href="https://www.deccanherald.com/tags/sebi">SEBI</a>) had sent notices to Adani Enterprises, the group's flagship company, as well as Adani Power, Adani Ports and Adani Energy alleging they had wrongfully categorised the shareholding of certain entities.</p><p>The groups' breaches of a minimum public shareholding requirement date back to 2020 and the SEBI had sought to recover about Rs 2,500 crore ($295 million) from the entities, <em>ET</em> said.</p><p>Adani Enterprises and one of its directors, Vinay Prakash, as well as an Ambuja Cements director, Ameet Desai, have proposed a settlement, <em>ET</em> reported.</p><p>Another proposal for a 2.8-million-rupees ($33,035) settlement is from Emerging India Focus Funds (EIFF), a Mauritius-based foreign portfolio investor that the SEBI says is linked to Vinod Adani, brother of Adani Group Chairman Gautam Adani, <em>ET</em> said.</p>.No bribes paid, I would certainly know if large amount of cash is paid to anybody: Adani Group CFO.<p>The report did not have information regarding other settlement applications.</p><p>The proposals were submitted last week in response to a show-cause notice issued by the SEBI on Sept. 27 to about 30 Adani Group entities, the newspaper reported.</p><p>The entities have contested the charges in response to the notice and the settlement application is only a precautionary measure, ET added, citing a source.</p><p>The Adani Group did not immediately respond to a Reuters request for comment.</p><p>Last month, US authorities accused Gautam Adani and some top executives in the Adani Group of being part of a scheme to pay bribes of Rs 2,244 crore ($265 million) to secure Indian power supply contracts and of misleading US investors during fund raises there, charges the group has called "baseless". </p><p>($1 = 84.7580 Indian rupees)</p>
<p>Several entities linked to the <a href="https://www.deccanherald.com/tags/adani-group">Adani Group</a> have approached the India markets regulator seeking to settle a case that accuses them of violating public shareholding regulations at some listed companies, the <em>Economic Times</em> reported on Tuesday.</p><p>The Securities and Exchange Board of India (<a href="https://www.deccanherald.com/tags/sebi">SEBI</a>) had sent notices to Adani Enterprises, the group's flagship company, as well as Adani Power, Adani Ports and Adani Energy alleging they had wrongfully categorised the shareholding of certain entities.</p><p>The groups' breaches of a minimum public shareholding requirement date back to 2020 and the SEBI had sought to recover about Rs 2,500 crore ($295 million) from the entities, <em>ET</em> said.</p><p>Adani Enterprises and one of its directors, Vinay Prakash, as well as an Ambuja Cements director, Ameet Desai, have proposed a settlement, <em>ET</em> reported.</p><p>Another proposal for a 2.8-million-rupees ($33,035) settlement is from Emerging India Focus Funds (EIFF), a Mauritius-based foreign portfolio investor that the SEBI says is linked to Vinod Adani, brother of Adani Group Chairman Gautam Adani, <em>ET</em> said.</p>.No bribes paid, I would certainly know if large amount of cash is paid to anybody: Adani Group CFO.<p>The report did not have information regarding other settlement applications.</p><p>The proposals were submitted last week in response to a show-cause notice issued by the SEBI on Sept. 27 to about 30 Adani Group entities, the newspaper reported.</p><p>The entities have contested the charges in response to the notice and the settlement application is only a precautionary measure, ET added, citing a source.</p><p>The Adani Group did not immediately respond to a Reuters request for comment.</p><p>Last month, US authorities accused Gautam Adani and some top executives in the Adani Group of being part of a scheme to pay bribes of Rs 2,244 crore ($265 million) to secure Indian power supply contracts and of misleading US investors during fund raises there, charges the group has called "baseless". </p><p>($1 = 84.7580 Indian rupees)</p>