India's markets regulator found a dozen offshore funds invested in Adani Group companies were in violation of disclosure rules and in breach of investment limits, two people with direct knowledge of the matter said on April 22. They declined to be named as they not authorised to speak to media.
The Securities and Exchange Board of India (SEBI) and the Adani Group did not immediately respond to emailed requests for comment.
Reuters had first reported that the SEBI uncovered the violation of rules on disclosures by listed entities and limits on the holdings of offshore funds in August last year.
