Mumbai, 19/5: Sebi has threatened two Mauritus-based funds with investments in the Adani Group that they could face penalties and cancellation of licences for not sharing shareholding details despite repeated requests over two years, according to a document reviewed by Reuters.
The Adani Group and its 13 offshore investors have been facing an investigation by the Securities and Exchange Board of India (Sebi) since Hindenburg Research in 2023 alleged improper use of tax havens by the group, triggering a stock sell-off.
