Sebi investigating whether Adani Group flouted disclosure rules: Report, ET LegalWorld
India’s capital markets regulator is looking into whether the Adani Group violated rules mandating the disclosure of market-moving information, according to people with knowledge of the matter. The Securities and Exchange Board of India has asked officials at the stock exchanges if Adani Green Energy Ltd. failed to properly disclose the US Justice Department’s investigation […]
Adani Group and Recent Investigations, Legal News, ET LegalWorld
The FCPA stands for Foreign Corrupt Practices Act of 1977, was enacted by Congress for the purpose of making it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business. Amendments to the FCPA The FCPA was amended in 1998, with which the […]
SEBI notice to Adani firm over alleged wrongful categorisation of shareholding, ET LegalWorld
Adani Energy Solutions Ltd (AESL), the power transmission arm of the Adani group, on Tuesday said it has received a notice from SEBI alleging wrongful categorisation of certain investors as public shareholders. Without giving details, the firm in notes to its second-quarter earnings statement said it will respond to regulatory and statutory authorities by providing […]
Adani Wilmar Ltd. fined for violating Legal Metrology Packaged Commodity Rules, ET LegalWorld
In a recent development, Adani Wilmar Limited, a major player in India’s consumer goods sector, has disclosed receiving a penalty order from Legal Metrology Officer, Mathura Division, Uttar Pradesh, according to the exchange filling. The company made this announcement in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations […]
Adani Power, Dickey Alternative challenge NCLAT’s status quo order in Supreme Court, ET LegalWorld
A consortium of Dickey Alternative Investment Trust and Adani Power Ltd on Wednesday moved the Supreme Court challenging the National Company Law Appellate Tribunal’s order asking it to maintain status quo on implementation of the consortium’s resolution plan for debt-laden Coastal Energen. A Bench led by Chief Justice DY Chandrachud posted the matter for hearing […]
Adani consortium seeks urgent SC intervention over NCLAT’s status quo order in Coastal Energen case, ET LegalWorld
The Dickey Alternative Investment Trust and Adani Power consortium moved the Supreme Court on Wednesday, challenging the National Company Law Appellate Tribunal’s (NCLAT) recent directive to maintain the status quo in the Corporate Insolvency Resolution Process (CIRP) of Coastal Energen Private Limited. The NCLAT, Chennai, issued the status quo order on September 6, in response […]
Kenyan court halts proposed Adani lease of country’s main airport, ET LegalWorld
Kenya’s high court has temporarily blocked a proposed deal for India’s Adani Group to lease the country’s main airport for 30 years in exchange for expanding it, court documents showed. In a joint application, the Law Society of Kenya (LSK), the country’s main bar association, and the Kenya Human Rights Commission (KHRC) told the court […]
Supreme Court refuses stay on Adani Goodhomes’ resolution plan for Radius Estates & Developers, ET LegalWorld
The Supreme Court on Friday refused to stay the implementation of Adani Goodhomes Pvt Ltd’s resolution plan for debt-ridden Radius Estates & Developers Pvt Ltd, even as it sought response from the resolution professional and others on an appeal by Beacon Trusteeship Ltd, a dissenting financial creditor. Beacon claimed that it didn’t get a fair […]
SC seeks Himachal govt’s response on Adani Power’s plea over Rs 280 crore refund, ET LegalWorld
The Supreme Court on Monday sought response from the Himachal Pradesh government on Adani Power’s appeal seeking transfer of its upfront premium of Rs 280.96 crore along with the interest at 18% in the hydro-electric power projects dispute. The Himachal Pradesh High Court had in July set aside its earlier order directing the state government […]