ADANI INDICTMENT NEWS
Gautam Adani's US bribery indictment: What you need to know
Indian billionaire Gautam Adani and seven others have been indicted by U.S. prosecutors for an alleged $265 million bribery scheme involving Indian officials. The "Corrupt Solar Project" charges relate to power supply deals, impacting Adani Group's global infrastructure projects. The company denies the allegations, but the scandal has triggered investigations, stock declines, and project cancellations worldwide.
Adanis have strong grounds to challenge indictment by US DoJ, say legal experts
Legal experts believe that Gautam Adani and others charged with bribery, securities fraud, and wire fraud in the US have a strong case to challenge the indictment. They can question the US prosecutors' jurisdiction and the sufficiency of the evidence. The legal process is expected to take time, with the possibility of extradition, plea deals, and trials all complicating the timeline.
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.
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.
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.
Markets shrug off Adani's indictment blues with a MAHA rally on D-Street
The surge was also the third-biggest advance in a trading session in 2024 so far though money managers and analysts are sceptical about whether the renewed strength is here to stay. The occasions on which both indices gained more than they did on Friday were on June 3 after the general election exit polls and on June 5, after results were announced.
S&P Ratings says US allegations may renew questions on governance practices at Adani
S&P Global Ratings warns that the US indictment of Adani Group's founder Gautam Adani over bribery allegations could harm the conglomerate's reputation and financial standing. The indictment has already impacted Adani Group's stock and bond prices, leading to cancelled bond sales.
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.
Sebi investigating whether Adani Group flouted disclosure rules: Report
India's market regulator, SEBI, is investigating Adani Green Energy Ltd. for potential disclosure violations regarding a US Justice Department bribery probe. The investigation centers on whether Adani Green adequately informed investors about the investigation and its scope, particularly the involvement of individuals linked to the Adani Group.
S&P downgrades outlook on three Adani Group firms amid US indictment
S&P Global Ratings has downgraded the outlook for three Adani Group companies following US authorities indicting founder Gautam Adani on bribery and fraud charges. The allegations have triggered market losses and raised concerns about the group's corporate governance, potentially impacting its operations and credit profile.
ACC, Adani Enterprises among 6 Adani Group stocks where FIIs cut stakes in CY2024
Foreign Institutional Investors (FIIs) have been reducing their holdings in several Adani Group stocks over the past three quarters, while increasing stakes in others. This comes amidst allegations of bribery and fraud against Adani Group Chairman Gautam Adani by the US Securities and Exchange Commission, leading to a significant drop in the company's market value.
Adani bribery charges add to one of Canada¡¯s largest public pension managers' India nightmare
Three former employees of Canada's CDPQ, including Cyril Cabanes, Saurabh Agarwal, and Deepak Malhotra, were charged with conspiracy to violate the Foreign Corrupt Practices Act. US prosecutors allege they conspired with Indian billionaire Gautam Adani to bribe Indian officials for solar energy contracts, concealing the scheme from US investors.
Stocks in news: Adani Enterprises, Adani Green, JSW Energy, Afcons Infra, Tata Power
Shares of Adani Enterprises, Adani Green and few other group stocks will be in focus following a sharp 20% fall on Thursday due to US indictment against Gautam Adani.
No documentary basis yet to start a probe into Adani fraud charges: SECI Chief
India's Solar Energy Corporation (SECI) stated that an investigation into allegations of fraud and bribery against Gautam Adani and others is premature. SECI claims to have received no official communication from US authorities regarding the indictment and has found no evidence of wrongdoing within its ranks.
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.
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.
TMC MP questions 'involvement' of BJP government over bribery charges against Adani
Gautam Adani and associates face US charges for allegedly bribing Indian officials to secure favorable solar energy contracts. Opposition leaders, including Saket Gokhale and Mahua Moitra, criticize the Indian government's silence and demand an independent investigation. Adani Group stocks experience a significant decline following the indictment.
Gautam Adani in trouble: Why is the Indian tycoon facing US bribery charges?
The business empire of Gautam Adani is again in turmoil after the billionaire Indian tycoon was charged in the United States with paying exorbitant bribes to secure lucrative government contracts. - Wednesday's indictment in New York accuses Adani Group's leadership of paying more than $250 million to Indian government officials to secure lucrative contracts worth more than $2 billion.
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