ADANI CASE
Extraterritorial application of US laws: Former foreign secy Kanwal Sibal suggests Adani case be transferred to India
Former foreign secretary Kanwal Sibal criticized the US for alleging bribery charges against the Adani Group, calling it an overreach of US jurisdiction. He questioned the basis of US involvement, suggesting that the case should be handled by Indian legal systems if the allegations are proven.
Gautam Adani: US summons & a new twist in India intensify billionaire's troubles
Gautam Adani's business empire faced a new wave of turmoil as a US court indictment accused him of orchestrating a $250 million bribery scheme. The allegations triggered a stock market plunge, wiping out billions from Adani's fortune, and prompted investigations by Indian authorities and the US SEC.
New application filed in SC against Adani Group in connection with the US indictment order
???The application, filed by Vishal Tiwari, an advocate appearing in person, seeks to include critical documents related to criminal charges and securities violations against the conglomerate in a pending case which is related to investigations into the Adani Group's financial practices.
Gautam Adani, nephew summoned by US SEC in $265 million bribery case
The US Securities and Exchange Commission (SEC) has summoned Gautam Adani and Sagar Adani, alleging a $265 million bribery scheme to secure solar power contracts. The SEC claims Adani Green Energy Ltd misled investors about its anti-corruption practices while raising funds. The Adani Group denies wrongdoing and plans to pursue legal action.
Adani Bribery Case: US SEC summons Gautam Adani, nephew Sagar
Gautam Adani and his nephew Sagar Adani have been summoned by a US court. They are accused of bribing Indian officials to secure solar energy contracts. The US Securities and Exchange Commission alleges the bribes totaled USD 265 million. The Adani Group denies the allegations and maintains its commitment to ethical practices.
Adani Bribery Case: Here are 5 setbacks that followed post indictment
The Adani Group faces setbacks as global banks consider halting new credit lines following a US indictment alleging bribery. Indian regulators are investigating potential disclosure violations, while Kenya scrapped Adani projects. S&P downgraded the outlook for three Adani firms, and the group's stocks experienced a rout, though they partially recovered.
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Down again, but not out: How the Adani story might play out now
Indian billionaire Gautam Adani's business empire faces scrutiny following US bribery charges. The indictment alleges over $250 million in bribes for government contracts, prompting stock sales and project cancellations. While Adani denies the charges, analysts believe the impact on his reputation and future dealings will be significant.
These 5 mutual fund houses had no exposure in Adani stocks in October
Five mutual fund houses held no Adani Group stocks in October, while 38 others had a combined exposure of Rs 43,000 crore. This comes amidst a US bribery scandal that wiped out Rs 2.62 lakh crore from Adani's market value in just two days. The scandal involves allegations of defrauding US investors and bribing officials to secure contracts and loans.
US charges against Adani, 7 others could lead to arrest warrants, extradition bid: Attorney
The US Department of Justice charged Gautam Adani, his nephew Sagar Adani, and others with bribery. They allegedly bribed Indian government officials to secure contracts worth billions of dollars. The US Securities and Exchange Commission also filed charges. Adani Group denied the charges and stated its compliance with all laws.
What you need to know about the man behind the big jolt to Adani
Gautam Adani and seven others face indictment in the US for alleged bribery related to solar energy contracts.
Gautam Adani is facing the biggest trial of his life
Adani, once kidnapped for ransom in 1998 and later a hostage during the 2008 Mumbai terror attack, went on to build one of India's largest business empires - spanning ports, energy, and infrastructure. He now finds himself in the middle of a legal investigation after US prosecutors charged him with bribery and securities fraud. His group faces ongoing controversies, including environmental protests and a major stock scandal, challenging his global ambitions.
Gautam Adani's biggest trial: How it all started in June 2020
Indian billionaire Gautam Adani and his associates are facing accusations of orchestrating a massive bribery scheme to secure a solar energy contract. US authorities allege that Adani bribed Indian officials and misled US investors, leading to charges of bribery and securities fraud. Here's a look how everything stared in June 2020.
Individuals linked to Adani bribery case associated with Congress, alleges Andhra BJP chief
Andhra Pradesh BJP president D Purandeswari claims that individuals allegedly involved in the Adani Group bribery case are linked to the Congress party. She highlights alleged connections between Adani and Congress figures, and points to Power Sale Agreements signed during the terms of governments she claims were close to the Congress as potentially related to the allegations.
Key events in Gautam Adani's US indictment over alleged bribery scheme
Indian billionaire Gautam Adani and two others have been indicted by U.S. prosecutors for allegedly orchestrating a $265 million bribery scheme in India to secure solar power contracts. The U.S. Securities and Exchange Commission also filed civil charges. The Adani Group denies the allegations.
SECI link to Adani bribe, fraud probe: What put India's solar power nodal agency in the dock?
The US Justice Department is investigating allegations of bribery involving Adani Group, Azure Power, and India's Solar Energy Corporation (SECI). The matter traces back to a 2019 (stalled) solar project, with accusations that Adani offered bribes exceeding $250 million to secure agreements with state discoms despite pricing disputes. Adani has denied the allegations.
Adani Group under fire, once again: The bribery indictment story so far and what next?
Adani Share Price: US prosecutors have accused Gautam Adani and seven others of bribery. They allegedly paid millions in bribes to Indian officials for contracts. Adani Group denies the charges. The company's stocks and bond prices have dropped. Political parties in India are debating the issue. Adani Group may appeal the charges or try to settle.
India-US ties have strong foundation: White House confident in navigating crisis over Adani bribery charges
The White House expressed confidence in the strong foundation of the US-India relationship amidst bribery charges against Indian billionaire Gautam Adani. The US acknowledged the allegations, while emphasising their commitment to navigating the issue.
Adani Bribery Allegations: Here're the 'encrypted' WhatsApp messages of accused Sagar Adani
Adani Group Bribe Allegations: The Adani Group faces renewed scrutiny after U.S. prosecutors revealed allegations of a $265 million bribery scheme involving top executives, including founder Gautam Adani and his nephew, Sagar Adani. Court filings suggest Sagar meticulously documented hundreds of millions in alleged bribes on his mobile phone, with notes prosecutors labeled as "bribe notes".
'Bribe notes' with per megawatt rates: Case filings detail Sagar Adani's role in the scandal
Sagar Adani, nephew of Indian tycoon Gautam Adani, stands accused by US prosecutors of orchestrating a bribery scheme. Detailed notes on his phone, dubbed "bribe notes," allegedly documented payments made to Indian officials to secure lucrative power contracts for the Adani Group.
Adani Group faces funding challenges and halted projects following SEC charges
The US Securities and Exchange Commission (SEC) has charged Gautam Adani and seven others with bribery and fraud, impacting the Adani Group's fundraising abilities. The charges led to Adani Green Energy canceling a $600 million bond offering and caused a decline in group company bond values.
Gautam Adani bribery, fraud case: All you need to know about it
Gautam Adani $250 mn bribery, fraud case: Gautam Adani and seven co-defendants face U.S. charges of fraud, bribery, and corruption for allegedly falsifying records to secure billions from Wall Street while planning $265 million in bribes to Indian officials to win solar energy contracts. Prosecutors claim the scheme deceived investors and violated U.S. securities laws. The Adani Group has denied allegations made by the US Department of Justice and SEC against its directors, calling them baseless.
No mention of wrongdoing by SECI in Adani case: CMD R P Gupta
SECI's CMD, R P Gupta, stated that the agency has not been implicated in any wrongdoing related to the Adani case. While US prosecutors allege bribes were paid to Indian officials for favorable solar power contracts, Gupta emphasized that SECI is not accused of any irregularities.
Charges against Gautam Adani in bribery case credit negative for Adani companies: Moody's
Gautam Adani and seven others were indicted in a US bribery case. Moody's said the indictment is credit negative for Adani Group companies. Adani Group stocks and dollar bond prices fell sharply. Adani bull GQG Partners said it was reviewing the emerging details. GQG's statement came after its stock tumbled 26% in Australia.
$12 billion bill for $265 million bribe charges! How Gautam Adani can fight back
Indian billionaire Gautam Adani and Adani Group executives are facing US charges. They are accused of bribing Indian officials to secure power supply contracts. The charges caused a significant drop in Adani's net worth and impacted Adani Group company stocks. Adani Group denies the allegations and plans to pursue legal options, including a potential settlement.
Gautam Adani should be arrested, PM Modi protecting him: Rahul Gandhi
Gautam Adani Case: Congress leader Rahul Gandhi called for the arrest of Gautam Adani, chairman of the Adani Group, following allegations of a multibillion-dollar fraud scheme. Gandhi urged for an investigation and punishment for Adani, accusing Prime Minister Modi of protecting the tycoon. U.S. prosecutors indicted Adani, his nephew, and another executive for allegedly bribing Indian officials to secure lucrative solar energy contracts.
Not sure if covenants violated: SECI on being named in Adani bribery case
India's SECI, named in Adani bribery allegations, stated it hasn't received any documents regarding the charges and is unsure of any covenant violations. Adani Group refuted the US authorities' allegations of a $250 million bribery scheme, deeming them baseless and committed to legal recourse while upholding its governance and compliance standards.
Vindicates demand for JPC probe: Congress on charges against Adani in US
Gautam Adani, Chairman of the Adani Group, has been charged with bribery and fraud by a US court. The charges relate to a scheme to obtain funds from US investors based on false statements. Congress leader Jairam Ramesh said the indictment supports the demand for a Joint Parliamentary Committee investigation. The US Attorney's office is handling the case.
Three former execs of Canadian pension fund CDPQ charged alongside Adani in US fraud, bribery case
The US SEC has charged Indian billionaire Gautam Adani and others, including three former CDPQ executives, with a bribery and fraud case exceeding $250 million. The former CDPQ executives implicated are Cyril Cabanes, Saurabh Agarwal, and Deepak Malhotra. The indictment also names Ranjit Gupta, former CEO of CDPQ-controlled Azure Power, a green energy firm previously listed on the NYSE.
Gautam Adani¡¯s wealth drops over $10 billion in a day amid U.S. bribery scandal
Billionaire Gautam Adani, chairman of the Adani Group, saw his net worth drop by $10.5 billion to $59.3 billion in a single day, following bribery and fraud charges brought by U.S. authorities. His brother, Vinod Adani, also faced a significant loss of $4.7 billion, reducing his net worth to $15.5 billion.
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