Minister of State for Finance Pankaj Chaudhary told Parliament that market regulator SEBI or Securities and Exchange Board of India and the government's Directorate of Revenue Intelligence are investigating several Adani Group firms.
In a written reply to a question, the minister said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt by certain listed firms.
"Sebi is investigating some Adani Group companies with regard to compliance with Sebi regulations," he said without giving details.
He however said the Enforcement Directorate wasn't investigating the Adani Group. Meanwhile, Adani Group said it has not received any communication or information requests recently from the SEBI recently and the DRI, show-cause notice was issued five years back.
Shares of Adani Group companies, which operate airports and ports, power generation and transmission, coal and gas trading fell after the minister's remark.