Group firms said last month they had received notices from...

	  Group firms said last month they had received notices from 

regulator

	  Adani Enterprises said notices had no "material 

consequential effect"

	  Group raising spending in fiscal 2025 by 85% to 1.3 trln 

rupees

	  Targeting expected boom in infrastructure development in 

India

(Recasts throughout with CFO comments on regulatory notices)

By Sumit Khanna and Chris Thomas

AHMEDABAD, India, June 25 - The finance chief of the Adani Group conglomerate on Tuesday deemed some of the Indian market regulator notices received by group firms citing alleged regulatory lapses as "trivial" in nature.

Led by billionaire Gautam Adani, the group has faced regulatory challenges in India since a report by short seller Hindenburg Research in January 2023. It accused group firms of improper use of tax havens and stock manipulation which sparked a $150 billion meltdown in the market value of group firms.

The Adani Group denied any wrongdoing. Then last month, flagship firm Adani Enterprises ADEL.NS and other group companies disclosed they had received notices from the Securities and Exchange Board of India (SEBI) about alleged violations including non-compliance with certain provisions for listed companies.

"Some (notices) are trivial," Chief Financial Officer Jugeshinder Singh told a media briefing in Ahmedabad on Tuesday.

He referred to one such query he himself received relating to his share trading history in relation to the time that GQG Partners invested in the group last year.

"I don't even have a demat account. They were very surprised to find out that I don't have a demat account," he said, referring to a trading account.

"So that ends there. So they were these kinds of procedural things. They have to do something, they couldn't find anything."

GQG and SEBI did not respond to Reuters' requests for immediate comment.

Adani since the Hindenburg report has attracted investment from investors including GQG and Abu Dhabi conglomerate International Holding IHC.AD .

Group companies said the notices they received were related to disclosure rules and related party transactions, but they have not provided detail regarding the alleged violations or the parties involved.

Adani Enterprises said the notices had no "material consequential effect" for relevant financial statements and there was "no material non-compliance of applicable laws and regulations".

INFRASTRUCTURE Also on Tuesday, Singh said the group would increase spending in fiscal year 2025 by 85%, to 1.3 trillion rupees ($15.6 billion), as it prepares to capitalise on an expected boom in infrastructure development.

Adani Green Energy, the renewable energy arm of the group, will spend 340 billion rupees to add 6 gigawatts of capacity, Singh told reporters.

Adani is also aiming to nearly double its cement making capacity to 140 million tons (MT) capacity by 2028 from 79 MT, he said.

On Monday, the owner of Adani Group told investors it is "well positioned" to capitalise on opportunities in India's booming infrastructure sector.