Adani Group misled investors with false information, says DoJ

Published On : 2024-11-22T08:13:51+0530 [ IST ] | Author : Mayur_Tembhare
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The US DoJ's indictment paper said Adani Group Adani Grouphad misled investors by giving false statements to Indian stock exchanges - NSE & BSE. Under Sebi's rules for listing and disclosures of corporate events there are various kinds of penalties

In its indictment paper the US DoJ said that in March 2024 a news article was published that said the US govt was probing Gautam Adani Gautam Adaniand his group over potential bribery. At that time Gautam Adani and his nephewSagar Adani were aware of the FBI investigation as well as the grand jury investigation

Despite their knowledge of the US govt investigations the group said it was not aware of any investigation against its chairman Gautam Adani. In the same article it also said that the group always maintained "the highest standards of governance" and was "fully compliant with anti-

On March 19 2024 the group also falsely informed NSE and BSE that Adani Green Energy had not received any notice from the US DoJ in respect of the allegations referred to in the news article earlier that month.

The DoJ indictment alleged that Gautam Adani and Sagar Adani had forced people at the group to make false and misleading statements about the US govt's investigations

The bourses asked for clarification from Adani Group companies after several news reports said that the US DoJ and SEC were investigating the group's top executives and stocks crashed.

The two stock exchanges NSE and BSE did not respond to TOI's query on whether they had taken any step relating to the US govt's allegation of misleading and false disclosures by the Adani Group.

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Source : Reporters From Sunrise Chronicles

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