India's regulator continues to investigate over a dozen allegations involving Adani, according to sources.

Written by Emily J. Thompson, Senior Investment Analyst

Source: Reuters

Updated: Sep 19 2025

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Source: Reuters

Ongoing Investigations: India's market regulator, SEBI, is investigating over a dozen allegations against the Adani Group related to securities regulations, despite dismissing two previous allegations of stock manipulation and non-disclosure of related party transactions.
Market Reaction: Following SEBI's dismissal of the allegations, shares of all nine listed Adani companies rose, with Adani Power experiencing a significant 12.7% increase, indicating a recovery from earlier stock sell-offs triggered by the accusations.
Pending Cases: While some investigations into the Adani Group have been closed, there are still more than a dozen cases pending, including allegations of wrongful categorization of shareholders by several Adani companies.
Settlement Applications: Approximately 30 entities within the Adani Group have applied to settle some of the regulatory charges against them, as reported earlier in the year.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.