This decision comes two months after US-based short-seller Hindenburg Research published a report accusing the Adani group of large-scale accounting fraud and stock manipulation.
The group s flagship Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in Kutch district of Gujarat.
Indiabulls Housing Finance and GNFC remain on the F&O ban list for 20 March. Securities banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.