Archive · 20 May 2025
SEBI Warns Funds Holding Adani Shares Over Disclosure Failures
Two investment funds from Mauritius are facing potential penalties from SEBI, India's market regulator.
The funds, linked to Elara Capital, haven't disclosed their shareholders, raising concerns.
SEBI suspects the funds might be fronts for undisclosed Adani investments.
The Congress party alleges the probe, which was meant to be completed in two months, has been dragging on for over two years.
They claim the government is attempting to cover up a major issue.
SEBI is reportedly threatening penalties and license cancellation for two Mauritius-based funds.
The funds are accused of failing to provide shareholding details.
The funds are linked to Elara Capital: Elara India Opportunities Fund and Vespera Fund.
Congress alleges that the probe has been delayed for over two years.
Congress claims that the funds are being used as fronts for Adani investments.
- Who
- SEBI, Elara India Opportunities Fund, Vespera Fund, and the Adani Group.
- What
- SEBI is threatening penalties and license cancellations against funds for not disclosing shareholding details related to Adani Group investments.
- When
- The report was published on May 20, 2025. SEBI has been investigating for over two years.
- Where
- India.
- Why
- To investigate compliance with regulations related to shareholding disclosure and potential misuse of funds.
- Funds Involved
- Two Mauritius-based funds
- Funds Specifically Mentioned
- Elara India Opportunities Fund and Vespera Fund
- Sebi's Concern
- Failure to provide shareholding details
- Possible consequences
- Potential penalties and license cancellation
- Date of Report
- May 20, 2025
Sources
Two foreign funds with investment in Adani Group under Sebi scanner
Sebi threatens 2 offshore funds holding Adani shares with penalties: Reports
Sebi warns 2 funds holding Adani shares with penalties
