Adani Energy Solutions Limited has resolved proceedings with the Securities and Exchange Board of India (SEBI) through a settlement order. The company filed a settlement application under SEBI (Settlement Proceedings) Regulations, 2018, to resolve alleged violations of listing agreement and exchange bye-laws. The settlement involves a payment of INR 9,75,000, with no material financial impact anticipated.
Adani Energy Solutions Resolves SEBI Proceedings
Adani Energy Solutions Limited (formerly known as Adani Transmission Limited) has concluded a settlement process with the Securities and Exchange Board of India (SEBI). The company had filed a settlement application under the SEBI (Settlement Proceedings) Regulations, 2018, to amicably resolve ongoing proceedings.
Details of the Settlement
The settlement pertains to alleged violations of Clause 41(1)(h) of the erstwhile Listing Agreement read with Regulation 2.5 of BSE Regulations (Cash Segment) and Clause (8)(b) of Chapter IV of NSE Bye-Laws. In accordance with the settlement, Adani Energy Solutions Limited will pay a settlement amount of INR 9,75,000. The company has stated that this settlement will not have any material financial impact.
Regulatory Disclosure
This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The details of the settlement order have been provided as an enclosure. The settlement order document is available for public access on the SEBI website.
Source: BSE
