The Securities and Exchange Board of India (SEBI) has issued warnings to two Mauritius-based offshore funds holding shares in the Adani Group, citing violations of disclosure requirements. The funds failed to provide detailed shareholding information despite repeated requests over the past two years, leading SEBI to consider penalties and possible revocation of their licenses .

This action is part of SEBI’s broader investigation into offshore funds’ investments in Adani Group companies. The regulator found that several offshore funds breached disclosure rules and exceeded investment limits, with some funds allegedly linked to Adani Group promoters . SEBI is reviewing settlement applications from these entities, but decisions are pending as the regulator reassesses its settlement processes .

The developments underscore SEBI’s commitment to enhancing transparency and accountability among foreign investors in India’s financial markets.

Sources