The complaint calls for the implementation of the so-called Leahy Law, which the plaintiffs and rights group say Israel has been illegally exempted from
world3 days ago
India's markets regulator found a dozen offshore funds invested in Adani group companies were in violation of disclosure rules and in breach of investment limits, two people with direct knowledge of the matter said on Monday.
They declined to be named as they were not authorised to speak to media.
Securities and Exchange Board of India (SEBI) and the Adani Group did not immediately respond to emailed requests for comment.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Reuters had first reported that SEBI has uncovered violation of rules on disclosures by listed entities and limits on the holdings of offshore funds in August last year.
The regulator was also looking into Adani Group's ties with one of the funds to determine whether it could be seen acting "in concert" with the conglomerate's key shareholders, an accusation Adani has rejected in the past.
The regulator earlier this year sent notices to a dozen of Adani group's offshore investors outlining the charges and asking them to explain their positions on the disclosure violations and breach of investment limits, the sources said.
"The offshore funds were reporting their investment in Adani group companies at individual fund level. Regulator wanted the disclosure of holding at offshore fund group level," said the first of the two sources.
Eight of these offshore funds have approached the regulator via written request to settle the charges by paying a penalty without admission of guilt, the sources added.
ALSO READ:
The complaint calls for the implementation of the so-called Leahy Law, which the plaintiffs and rights group say Israel has been illegally exempted from
world3 days ago
The bill, already approved in parliament but not yet submitted to the government for final confirmation, has stirred a heated debate in Iran
world3 days ago
Through his efforts, this 22-year-old man showed people that an ordinary person can make a contribution through sheer will and determination, says Canadian government
world3 days ago
Aftershocks shake the island nation overnight; people queue for fuel and essentials; US, Australia and France send aid, rescue teams
world4 days ago
The 53-year-old from Alabama is currently the only living person with an animal organ transplant
world4 days ago
Sara had been subjected to 'acts of extreme cruelty' but Sharif and Batool had not shown 'a shred of remorse', says judge Cavanagh
world4 days ago
The UNHCR Director said that some of those fleeing could be linked to the former government or else be religious minorities with concerns
world4 days ago
Rafah residents say Israeli tanks pushed deeper towards the western area of Mawasi, known as a humanitarian-designated area
world4 days ago