New Delhi: Four Adani Group companies and 14 individuals associated with these concerns, including the group’s chairman Gautam Adani and his brothers Rajesh Adani and Vasant Adani, have settled proceedings with Securities and Exchange Board of India (Sebi) in matters that date back to June and July 2020. The total settlement amount across companies and associated directors amounts to Rs 1.48 crore.A Sebi order released on Monday (September 28) said Adani Enterprises Limited, Adani Power Limited, Adani Ports and Special Economic Zone Limited, Adani Transmissions (now Adani Energy Solutions) and individual directors named in the order would pay Rs 37.05 lakh in each case.The amount is to be settled jointly and severally, meaning that the company and listed directors are collectively responsible and the order does not provide an individual allocation among the directors.The Sebi order also states that receipt of the payments was confirmed by its concerned department on August 26, 2026.The matter dates back to complaints Sebi said it received in June and July 2020 that alleged non-compliance with minimum public shareholding (MPS) requirements by certain listed companies part of the Adani Group.An investigation was launched on October 23, 2020 and show cause notices issued in September 2024. A supplementary notice was sent from Sebi on March 3, 2025, alleging violations under securities laws and regulations governing MPS.The applicants settled the proceedings “without admitting or denying the facts and conclusions of law” the Sebi order said. The order also said that the proceedings can potentially be restored or initiated if representations prove untrue, undertakings are breached or there was a discrepancy in arriving at the settlement terms.