Adani Ports and Special Economic Zone on Friday denied a media report that said it was being investigated for possible money laundering.
Shares in Adani Port fell after a report, citing three unnamed people familiar with the matter, said the ports unit had failed to win security clearances to expand because it was being probed by the government for possible money laundering.
"The company also wishes to state that it has not received any intimation from the government nor is it under any kind of government investigation," the company said in an email statement to Reuters.
Adani Port shares closed at Rs 135, down 7.1%, its biggest single-day loss in more than three-and-a-half months.
Adani said it won government approval last month to develop a bulk cargo terminal at Kandla port in Gujarat, and is already developing an import terminal in Visakhapatnam.
Adani, which operates the country's largest private-sector port at Mundra, last year also acquired Abbot Point Coal Terminal in Australia for $2 billion.