Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
business2 days ago
The Securities and Commodities Authority (SCA) has referred an entity to Public Prosecution for operating without a licence, it said in an announcement on Tuesday.
The entity was subject to the regulation and supervision of the SCA and had not obtained necessary regulatory approvals.
This meant that it was in violation of Article (2) of Chapter One of Part Two of The Chairman of the Authority's Board of Directors' Decision No. (13/Chairman) of 2021 on the Regulations Manual of the Financial Activities and Status Regularization Mechanisms Rule Book.
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