Government investigating Adani Group’s account: Case related to Mumbai Airport, group gave information to SEBI in exchange filing

The Corporate Affairs Ministry is investigating the accounts of two airports of Adani Group in Mumbai. The group’s flagship company Adani Enterprises gave this information to market regulator SEBI in an exchange filing on Friday.

Adani Enterprises said that the Ministry has sought information and called for documents from Mumbai International Airport (MIAL) and Navi Mumbai International Airport (NMIAL) from the financial year 2017-18 to the financial year 2021-22. The company told SEBI that the group will respond as per legal provisions.

Adani Group is operating airports in 7 cities.
Adani Group currently operates airports in 7 cities of the country. This includes Mumbai along with Ahmedabad, Lucknow, Jaipur, Mangaluru, Guwahati and Thiruvananthapuram airports. Apart from this, the group is building a new airport in Navi Mumbai.

Hearing in Adani-Hindenberg case postponed till 20th October.
Amidst all this, on Friday, the Supreme Court has postponed the hearing in Adani-Hindenberg case till 20th October. Market regulator Securities and Exchange Board of India, i.e. SEBI, was scheduled to present a fresh status report in the matter on Friday.

In fact, on January 24, 2023, American short-seller company Hindenburg Research had leveled allegations against Adani Group ranging from money laundering to share manipulation. The Supreme Court had formed a 6-member committee to investigate the case. Apart from this, SEBI was also asked to investigate.