India’s market regulator is investigating possible violation of ‘related party’ transaction rules.
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In the Adani Group’s dealings with at least three offshore entities that have links to the brother of the conglomerate’s founder, two people said.
The three entities allegedly entered into several investment transactions with unlisted units of the ports-to-power conglomerate founded by billionaire Gautam Adani over the last 13 years, said the sources with direct knowledge of the matter.