US probe disclosure not mandated'

Adani group firms, in reply to the stock exchanges, have claimed that the disclosure of the probe carried out by the US agencies was not mandatory under the regulations of the Securities and Exchange Board of India (Sebi) as the matter was sub judice and no charges had been affirmed, sources familiar with the developments said.

The stock exchanges, which are also considered first-level regulators, had sought clarifications on allegations that the group gave misleading statements and did not give timely disclosures on the searches carried out by the US investigative agencies.

Sebi had directed the exchanges to seek clarity, sources informed, adding there is no formal investigation initiated into this matter against the group by the markets regulator.