Sebi settles case against Adani Group companies over public shareholding allegations

The Securities and Exchange Board of India (Sebi) on Monday settled proceedings against four Adani Group companies and several of their directors over alleged violations of minimum public shareholding requirements.The settlement order covers Adani Enterprises Ltd, Adani Power Ltd, Adani Ports and Special Economic Zone Ltd, and Adani Transmission Ltd, now known as Adani Energy Solutions Ltd, as well as several individuals associated with the companies, including Gautam S. Adani and Rajesh S. Adani.Non-complianceThe matter dates back to complaints received…