Shares of eight Adani Group companies were deep in the red to start the fresh week, as media reports surfaced that SEBI was probing violations of the related party transaction rules.

What Happened: A Reuters report late last week stated that the capital markets regulator SEBI was probing the violation of ‘related party’ transaction rules in dealings of the Adani Group with at least three offshore entities linked to Gautam Adani‘s brother Vinod Adani.

The report said citing sources that the three entities allegedly have entered into investment transactions with the group’s unlisted units for over a decade. As per the report Vinod Adani has links to the three entities as either a beneficial owner, director, or other positions. SEBI is now reportedly investigating the group’s failure to disclose that as a possible violation of the related party transaction rules. At the time of publishing, SEBI did not respond to an email asking for comments on the story.

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As per SEBI rules, any transaction between a company’s related parties (direct relatives, promoter groups, and subsidiaries for a listed entity) has to be disclosed to the public.

The report comes on the heel of another media report that said the group misled the public about its 20,500 crore debt repayment. However, the group has denied the report.

Price Action: Here is how Adani Group stocks fared on Wednesday afternoon.

Adani Enterprises shares traded 1.94% lower at ₹1,716.00.

Adani Green Energy slumped 4.26% to trade at ₹844.25.

Adani Ports & SEZ was down 1.09% to trade at ₹624.90.

Adani Power shares slumped 0.89% at ₹189.90.

Adani Total Gas shares traded 0.14% lower at ₹866.00.

Adani Wilmar was down 2.78% to trade at ₹394.70.

Adani Transmission shares were down 5% to hit lower circuit at ₹948.05.

Ambuja Cement shares traded 1.87% higher at ₹372.30. ACC shares traded 1.41% higher at ₹1,690.20.

NDTV was down 3.23% at ₹186.

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