Sebi probing ties between Adani Group and Gulf Asia fund, say sources
The Securities and Exchange Board of India (SEBI) is investigating the relationship between the Adani Group and a fund incorporated in the British Virgin Islands to see if there has been a violation of share ownership rules, two sources with direct knowledge of the matter said. The fund is called Gulf Asia Trade Investment, the sources said. It is owned by Dubai businessman Nasser Ali Shaban Ahli, according to checks of its website last month, although the site has since been pulled down.