Sebi Investigates Adani Group S Ties With Gulf Asia Fund

Top Stories

Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

Stock chart

SEBI investigates Adani Group’s ties with Gulf Asia Fund

ri-calendar-2-lineOct 12, 2023

By: BlinkX Research Team

FbkFbkTwitterTelegram

In order to determine whether share ownership regulations have been broken, India's market regulator is looking into the connection between the Adani Group and a fund established in the British Virgin Islands.

The fund is known as Gulf Asia Trade & Investment, and according to the Organised Crime and Corruption Reporting Project (OCCRP), it has invested in a number of listed Adani companies.

The investigation is a component of the Securities and Exchange Board of India's (SEBI) inquiry into the Indian conglomerate and comes in response to a report from short-seller Hindenburg Research from January, which claimed that offshore shell corporations "surreptitiously" owned stock in Adani listed companies, raising governance issues.

 

A key question for SEBI investigators is whether Gulf Asia's ties with the Adani Group were such that it would be deemed to be acting "in concert" with key Adani shareholder. 

The conglomerate has previously said it categorically rejects allegations by OCCRP that there was an "opaque use" of funds by business partners to invest in its listed companies. It has also denied allegations made by Hindenburg, saying all transactions made with entities that qualified as related parties had been fully disclosed.

Related News

News Thumbnail
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

News Thumbnail
Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

News Thumbnail
Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

News Thumbnail
Company

NBCC Arm Gets Two Construction Projects Worth Rs 443.61 Cr

4 mins read. August 2, 2024 at 12:33 PM

Related Blogs

Stock chartDemat Account

Biggest Winners and Losers in MSCI: Key Movers in Global Indices 2025

0 people read

3 mins read . Aug 20, 2025

Stock chartMutual Fund

What MF Big Boys Bought and Sold – Top Mutual Fund Stock Activity in 2025

0 people read

8 mins read . Aug 18, 2025

Download app

Access BlinkX
everywhere
across device

Join the Future of Trading

with BlinkX

#ItsATraderThing

Open Trading Account
Verify your phone
+91
*By signing up you agree to our terms & conditions