Reported 1 day ago
India's markets regulator has warned two Mauritius-based funds, Elara India Opportunities Fund and Vespera Fund, of potential penalties and licence cancellations for failing to disclose their shareholding details in the Adani Group despite multiple requests over two years. The Adani Group has been under investigation by the Securities and Exchange Board of India (SEBI) since 2023 due to allegations of improper use of tax havens and non-compliance with public shareholding norms, which the group has denied. The funds have not provided the requested disclosures, hindering the investigation.
Source: YAHOO