News Stocks Adani Enterprises Receives OFAC Request for Information Following WSJ Article AllegationsAdani Enterprises Receives OFAC Request for Information Following WSJ Article Allegations
Adani Enterprises has formally disclosed receiving a Request for Information from the U.S. Office of Foreign Assets Control regarding allegations in a Wall Street Journal article about Iran-related transactions. The company is voluntarily cooperating with the civil investigation while emphasizing minimal financial impact, as LPG operations represented only 1.46% of company revenue in FY24-25.
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Adani Enterprises has disclosed receiving a formal Request for Information (RFI) from the U.S. Office of Foreign Assets Control (OFAC) regarding allegations contained in a Wall Street Journal article published on June 2, 2025. The company made this disclosure on February 10, 2026, through official regulatory filings to BSE Limited and the National Stock Exchange of India Limited, in compliance with Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.
OFAC Investigation Details
The company received the RFI through its counsel on February 4, 2026 (India time) / February 3, 2026 (US time). According to the formal disclosure, OFAC has indicated it is conducting a civil investigation of the company's transactions processed through U.S. financial institutions that may have involved, directly or indirectly, Iran or interests of persons subject to U.S. sanctions against Iran.
| Parameter: | Details |
|---|---|
| Communication Type: | Letter shared via email |
| Receipt Date: | February 4, 2026 (India time) / February 3, 2026 (US time) |
| Authority: | United States Office of Foreign Assets Control |
| Investigation Period: | June 2023 to present |
| Compliance Findings: | None identified |
Company's Voluntary Engagement
Adani Enterprises emphasized that it proactively and voluntarily initiated discussions with OFAC concerning the WSJ allegations. The company stated it is voluntarily engaging and fully cooperating with OFAC and will supply the requested information. The official disclosure confirms that no aberrations, non-compliances, penalties, restrictions, or sanctions have been imposed pursuant to the communication.
Financial Impact Assessment
The company has assessed the expected financial implications as minimal, providing specific context about its LPG operations in the regulatory filing:
| Financial Metric: | Impact |
|---|---|
| Company Revenue (FY24-25): | LPG formed 1.46% of overall revenue |
| Adani Group Revenue (FY24-25): | LPG formed 0.5% of overall revenue |
| Operational Status: | All LPG imports ceased from June 2, 2025 |
| Expected Financial Impact: | None |
Regulatory Compliance and Filing Details
The disclosure was made under Regulation 30(13) of SEBI regulations, which requires disclosure of communication from regulatory, statutory, enforcement, or judicial authorities. The filing was signed by Jatin Jalundhwala, Company Secretary & Joint President (Legal), and submitted to both BSE Limited (Scrip Code: 512599) and the National Stock Exchange of India Limited (Scrip Code: ADANIENT). The company's response demonstrates transparency in its dealings with international regulatory bodies and commitment to maintaining compliance with both Indian and U.S. regulatory requirements.
Precautionary Measures
Out of abundant caution and as part of its cooperation efforts, Adani Enterprises ceased all LPG imports with effect from June 2, 2025. This decision was made despite LPG forming a very small and operationally non-material component of both the company's and the broader Adani Group's revenue streams. The company continues to maintain its position of full cooperation with the ongoing investigation while emphasizing the limited scope and financial impact of the matters under review.
Historical Stock Returns for Adani Enterprises
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.69% | +11.99% | +3.76% | +5.82% | +0.62% | +265.95% |
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