Big blow to Adani Group, Gautam Adani suffered a big loss due to a news

SEBI i.e. Security Exchange Board of India can investigate on violation of rules on Related Party Transactions. On the arrival of this news, there has been a decline in the shares of group companies on Monday.

The first business day of the financial year was not good for Gautam Adani. According to the news of Reuters, SEBI i.e. Securities Exchange Board of India can investigate the violation of rules on Related Party Transactions. On the arrival of this news, there has been a decline in the shares of group companies on Monday. The probe pertains to transactions of the Adani Group, involving at least three foreign entities linked to Vinod Adani, brother of founder Gautam Adani.

These things are being investigated

The three offshore companies are allegedly engaged in multiple investment deals with unlisted subsidiaries of Adani Group over 13 years. It has been claimed in the report that Vinod Adani is associated with these companies either as a beneficial owner or as a director. Markets regulator Sebi is probing whether the failure to disclose these connections is a violation of rules governing "related-party transactions".

Adani Group shares fall

Adani Enterprises Ltd. closed 2.5%, Adani Transmission Ltd. and Adani Green Energy Ltd. 5% each, Adani Total Gas Ltd. 0.7%, Adani Power Ltd. 2.2%, Adani Ports & SEZ 1.2%, Adani Wilmar 3.5%. per cent, NDTV Ltd declined by 3.7 per cent.

Shares of cement companies rose

The shares of ACC gained 1.3 per cent while the shares of Ambuja Cements Limited saw an increase of 1.6 per cent. Adani Group's cement companies, Ambuja Cements and ACC, have no plans to raise external funds to double their manufacturing capacity to 140 million tonnes by FY2028, reports Financial Express. The group has said that it has sufficient resources to meet this target. In addition, Adani Grune plans to cut costing to meet its objective of becoming the most professional cement maker in the country.

Out of top 25

On the other hand, due to the fall in the shares of Adani Group, there has been a big decline in the net worth of Gautam Adani. According to Forbes Billionaires, Gautam Adani's net worth has seen a decline of $ 1.2 billion i.e. an increase of Rs 9900 crore on Monday. After which his total wealth has been reduced to $ 43.1 billion. At present, he is the 27th richest businessman in the world. This means that he is out of the top 25 list.