Adani Enterprises Reaches $275 Million Settlement With Treasury

Adani Enterprises Ltd. agreed to pay $275 million over a probe by the Office of Foreign Assets Control, putting the Indian conglomerate a step closer to resolving its legal troubles in the US.

The Treasury Department said on Monday the settlement agreement related to purchases that the company made of shipments of liquefied petroleum gas from a Dubai-based trader. “Red flags should have put AEL on notice that the LPG actually originated from Iran,” Treasury said in a statement, referring to Adani Enterprises, the flagship company of the Adani Group conglomerate.