Mumbai: Adani Enterprises Ltd stated on Tuesday {that a} US company is investigating the corporate’s transactions to see if it traded in Iranian petroleum merchandise that have been below American sanctions, making it the third parallel US probe into the ports-to-power conglomerate.
The Adani Group flagship agency stated in a regulatory disclosure that it made a voluntary outreach to the US Workplace of Overseas Property Management (OFAC) after The Wall Road Journal reported on 2 June 2025 that US prosecutors have been investigating whether or not it imported Iranian liquefied petroleum fuel (LPG). The corporate didn’t disclose when it made this outreach.
Following its voluntary engagement with the OFAC, the US company on 3 February made a request for info (RFI) to Adani Enterprises by its counsel, the corporate stated in its trade submitting.
“Within the RFI, OFAC has additionally indicated that it’s conducting a civil investigation of the Firm’s transactions processed by US monetary establishments that will have concerned, straight or not directly, Iran or pursuits of individuals topic to US sanctions in opposition to Iran,” Adani Enterprises stated.
“The Firm is voluntarily participating and absolutely cooperating with OFAC and can provide the requested info,” the corporate additional stated.
The OFAC is a US Division of the Treasury company that administers and enforces financial and commerce sanctions.
This opens a 3rd investigation into the Ahmedabad-based conglomerate by US prosecutors. The US Division of Justice (DoJ) and the US Securities and Change Fee (SEC) have filed a legal swimsuit and a civil swimsuit, respectively, in opposition to billionaire promoter Gautam Adani and his nephew Sagar Adani, alleging that they paid bribes to unnamed authorities officers in India and didn’t disclose it to US buyers whereas elevating capital.
The Adani Group didn’t reply to Mint’s queries pertaining to the timing of its voluntary outreach to the OFAC. The OFAC didn’t remark, both.
Inventory of Adani Enterprises settled 1% decrease at ₹2,227.55 on the BSE on Tuesday, in comparison with a 0.25% acquire within the benchmark Sensex. The corporate made the disclosure throughout market hours.
The WSJ had reported final June that it carried out an investigation into a bunch of LPG tankers travelling between Adani’s Mundra port in Gujarat and the Persian Gulf. It stated that these vessels exhibited behaviour that was typical of vessels making an attempt to obscure their actions. As an illustration, a tanker’s monitoring knowledge confirmed that it was on the Khor al Zubair port in southern Iraq on 3 April 2024, however satellite tv for pc photographs from the day didn’t present the ship being current there. As a substitute, a similar-looking ship was current the identical day at an LPG terminal in Tonbuk, Iran.
This ship finally unloaded LPG on the Mundra port, the WSJ reported.
The Adani Group had denied these allegations again then. It stated that it didn’t have interaction in any commerce with any entity dealing with US sanctions.
Additional, LPG commerce was a comparatively small a part of its total enterprise, accounting for simply 1.5% of Adani Enterprises’ FY25 income of simply over ₹1 trillion, the corporate stated.
Additional, “out of ample warning” and “as a part of its cooperation efforts,” Adani Enterprises has stopped all LPG imports since 2 June final 12 months, when the WSJ report was printed.