Billionaire Adani’s firms being probed

FILE PHOTO: Indian billionaire Gautam Adani speaks during an interview with Reuters at his office in the western Indian city of Ahmedabad April 2, 2014. REUTERS/Amit Dave/File Photo

MUMBAI: Firms controlled by Indian billionaire Gautam Adani (pic) are being probed by the country’s market regulator over compliance with local securities rules, the junior finance minister has told parliament.

Besides the Securities and Exchange Board of India (Sebi), Directorate of Revenue Intelligence, or DRI, is also “investigating certain entities” belonging to the Adani Group for compliance to another set of local laws, junior finance minister Pankaj Chaudhary said in response to a lawmaker’s question in the Indian parliament.