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Never entered into pact to operate airport in Kenya: Adani
Gautam Adani's group refuted claims that Kenya canceled deals worth over USD 2.5 billion following bribery charges in the US. The group clarified that no binding agreement was in place for operating Kenya's main airport and the power transmission line project didn't necessitate disclosure under Sebi regulations.
Adani CFO says US indictment linked to one Adani Green contract
Adani Group CFO Jugeshinder Robbie Singh addressed a U.S. bribery indictment, clarifying its connection to a single contract under Adani Green Energy, representing about 10% of their business. Singh emphasized that the allegations, stemming from a February 2024 risk disclosure, are unproven and don't involve other Adani entities.
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.
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.
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.
Adani's troubles: Global banks weigh halting fresh credit to Adani after U.S. indictment
Global banks are reassessing their lending to India's Adani Group. This follows fraud charges against its founder, Gautam Adani, by US prosecutors. Banks may pause new loans but retain existing ones. The situation is being closely monitored for its impact on the group's finances and fundraising plans. The Indian government's response is also being watched closely by these international banks.
Who is Sagar Adani and what is his relation to Gautam Adani?
Gautam Adani and his nephew, Sagar Adani, face charges in a US court. They are accused of bribery and fraud in a renewable energy project. US authorities claim they paid millions in bribes to Indian officials. The Adani Group denies the allegations. The case involves a solar energy project and bond offerings.
Adani bonds fall, Vedanta's issue may also face delay
Adani Green Energy's March-issued bond offering 6.7% dropped as much as 15 cents, trading at 78/79 cents on the dollar in the early trades. This saw some recovery and closed at 82/83 cents from 94 cents Wednesday.
No direct agreement with Adani, says YSRCP on allegation of bribe for power purchase
The YSRCP clarified that the Andhra Pradesh government had no direct agreement with the Adani Group regarding solar power contracts. The party stated that the power purchase agreement was signed between Solar Energy Corporation of India Ltd (SECI) and AP Discoms, with the approval of regulatory bodies.
NSUI stages protest against industrialist Gautam Adani
The NSUI, Congress's student wing, held a protest demanding the arrest of Gautam Adani over corruption allegations. They accused the government of shielding Adani and promoting crony capitalism. The protest also highlighted student concerns like recruitment transparency and scholarship restoration.
Kenya cancels power transmission deal with Adani following US bribery charges
Kenyan President William Ruto announced the cancellation of two major deals involving India's Adani Group. The first is the procurement process for expanding Kenya's main airport, and the second is a $700 million power transmission agreement with an Adani unit. The cancellations follow U.S. prosecutors' indictment of Adani for allegedly conspiring to bribe Indian officials in a $265 million scheme.
Azure Power responds to US SEC allegations of bribery involving Adani Green
Hours after U.S. prosecutors charged Indian billionaire Gautam Adani and seven others, including former Azure Power officials, in an alleged bribery scheme related to a renewable energy project in India, Azure Power issued a statement reaffirming its commitment to strong governance standards.
Gautam Adani's wealth plummets by over $12.4 billion: Hindenburg d¨¦j¨¤ vu on the anvil?
Gautam Adani and associates were indicted in New York for allegedly bribing officials to secure solar energy contracts. The charges led to a $12.4 billion drop in Adani's net worth and sent Adani Group stock plummeting, sparking concerns about the company's financial stability and casting a shadow over its future in renewable energy.
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.
Share price of Adani Power as Sensex drops 124.18 points
Promoters held 47.2 per cent stake in the company as of 30-Sep-2024, while FII and DII ownership stood at 12.66 per cent and 1.51 per cent, respectively.
Why Ambani the hydrocarbon king is betting on a humble business
Reliance Industries, led by Mukesh Ambani, is pivoting towards clean energy by investing heavily in compressed biogas (CBG) plants. This move aligns with India's push for a gas-based economy and aims to utilize agricultural waste to produce cleaner fuel, potentially reducing reliance on LNG imports and addressing the issue of stubble burning.
Rs 7.5 lakh crore boom! What BJP's victory in Haryana means for stock market investors
BJP's retention of control in Haryana boosted the Indian stock markets, with Sensex gaining 585 points. PSU stocks surged, led by HUDCO and RVNL, while Adani Group shares also rallied. Analysts see the victory as a sign of continuity in economic policies, positively impacting investor sentiment.
JPC urgent to unearth full extent of corruption in Adani matter: Congress
The Congress party has renewed its call for a Joint Parliamentary Committee investigation into the Adani Group, citing concerns about corruption, monopolization, and regulatory failures. Congress general secretary Jairam Ramesh highlighted the rapid financial turnaround of Diamond Power Infra Ltd, which was taken over by Gautam Adani's brother-in-law after its bankruptcy, and has since seen a dramatic increase in valuation and revenue.
'For me Dharavi is...': Gautam Adani on India's largest slum redevelopment project
Gautam Adani, chairman of the Adani Group, highlighted the Dharavi Redevelopment Project during a keynote at Jai Hind College, Mumbai. He emphasized that the initiative is not only about urban renewal but also about restoring the dignity of over 1 million residents and showcasing the potential of ambitious, purposeful action. The project, which will cover nearly 600 acres in Mumbai's densely populated Dharavi, is set to begin within 6-8 months.
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