Gautam Adani: The troubles of the country's big industrialist Gautam Adani are not stopping. The Securities and Exchange Board of India (SEBI) has issued a show cause notice to the company regarding the matter related to Adani Energy Solutions. This notice of SEBI points towards the recent allegations made by Hindenburg. However, the Adani Group has repeatedly denied the allegations made by the American firm.

SEBI has accused Adani Energy Solutions of misrepresenting certain investors as public shareholders under the minimum shareholder norms. 

The company also confirmed receiving the notice.

Power transmission company Adani Energy Solutions has also confirmed receiving a show-cause notice. The company has also confirmed that this notice from SEBI is related to the minimum public shareholders rules of the regulator. 

Energy Solutions is one such company of the Adani Group which is considered highly diversified by many analysts. Apart from this, SEBI has served notice at a time when SEBI Chairperson Madhabi Puri Buch herself has denied the serious allegations leveled against her by Hindenburg this year. 

The company's shares continue to fall.

Since the disclosure of SEBI's show-cause notice, the shares of Adani Energy Solutions (ADANIENSOL) have been continuously falling. On Friday, the shares of Adani Energy Solutions closed at Rs 920.2 with a decline of 5.7 percent. At the same time, a weekly decline of 11.9 percent was recorded. Due to the continuous decline in the company's shares, investors have suffered a loss of Rs 14,974 crore this week.