India regulator probing some Adani offshore deals for possible rule violations

Reuters exclusively reported that India’s capital market regulator, which is investigating the Adani group, has zeroed in on transactions between its companies and offshore entities linked to promoter Gautam Adani’s brother for possible violations of rules. These transactions should have been reported under India’s ‘related party transaction’ rules but were not. Reuters is the first to report the early findings of the Securities and Exchange Board of India’s scrutiny into the group. The regulator is due to submit a report to a court appointed panel in May. On Monday, shares of most Adani group companies traded lower while the benchmark BSE Sensex traded flat.