Six Adani Group firms have received show cause notices from the Securities and Exchange Board of India (SEBI) for alleged breaches in related party transactions and non-compliance with listing regulations, the companies disclosed in their regulatory filings to the stock exchanges.

Adani Enterprises, the flagship firm of the group, disclosed the receipt of two show-cause notices during the quarter ending on March 31. Adani Ports & Special Economic Zone, Adani Power, Adani Energy Solutions, Adani Wilmar and Adani Total Gas also informed the bourses about SEBI’s recent inquiries.

During the quarter ended March 31, 2024, the parent company received two show cause notices from the SEBI alleging non-compliance of provisions of the listing agreement and LODR regulations pertaining to related party transactions in respect of certain transactions with third parties and validity of peer review certificates of statutory auditors with respect to earlier years, Adani Enterprises said its disclosure to the bourses.

The firms have said that legal counsel suggests minimal impact from the regulatory notices, auditors, excluding those of Adani Wilmar and Adani Total Gas, took a cautious stance. This apprehension arises from the possibility that SEBI’s investigations could have implications on future financial statements.