Adani Power Settles SEBI Proceedings for ₹37.05 Lakhs

Adani Power Limited, along with directors Mr. Gautam S. Adani, Mr. Rajesh S. Adani, and erstwhile director Mr. Vneet Jaain, has reached a settlement with the Securities and Exchange Board of India (SEBI). A Settlement Order has been passed under the SEBI (Settlement Proceedings) Regulations, 2018, resolving proceedings related to alleged violations without admission or denial of guilt. The settlement amount is INR 37,05,000, which is stated to have no material financial impact on the company. The alleged violations pertained to Rule 19A of the Securities Contracts (Regulations) Rules, 1957, clauses of the erstwhile Listing Agreement, and SEBI Listing Regulations.