π« Sebi rejects settlement bids from Adani-linked FPIs
The capital markets regulator, Sebi, has turned down settlement applications from FPIs holding stakes in Adani Group companies. This decision was communicated to the representatives last week, reviving a case flagged in October 2020. The investigation targeted 13 FPIs, as their proposed terms did not match Sebi's suggestions. The standoff stemmed from FPIs' reluctance to fully disclose necessary information for settlement. Now, Sebi will proceed with legal proceedings against these entities. π§