SEBI Rejects Settlement Applications From Adani-Linked FPIs
· Business · Economic Times, Bloomberg
The Securities and Exchange Board of India has rejected settlement applications filed by foreign portfolio investors holding stakes in Adani Group companies. The regulatory decision stems from an investigation initiated in October 2020 after surveillance systems flagged an unusual concentration of holdings across 13 FPIs. Officials stated that the applicants failed to agree to SEBI's required settlement terms, which included full disclosure of information and non-monetary conditions. The High-Powered Advisory Committee on settlement orders recommended the rejection, which was subsequently accepted by a panel of whole-time members under regulation 15(1) of the Settlement Regulations, 2018. SEBI communicated the final decision to the representatives of the FPIs last week.
Why it matters
The decision prolongs regulatory scrutiny over ownership concentration in Adani Group entities and underscores SEBI's strict disclosure prerequisites for corporate settlements.
Read the original report — Economic Times
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