BRIBERY ALLEGATIONS
'No request from US on this case', MEA on reports of summons to executives of Adani group in alleged bribery case
The Ministry of External Affairs confirmed that India was not informed in advance about the allegations against Adani Group executives by the US Department of Justice. The accusations involve supposed bribery and corruption, which the Adani Group has refuted. No mutual legal assistance request has been received from the US.
Adani Green Energy shares rally 9% after Gautam Adani responds to bribery allegations and legal scrutiny
Adani Green Share Price: Adani Green Energy shares rise by 9.1% after Chairman Gautam Adani addresses bribery and fraud allegations, emphasizing resilience and commitment to compliance. Adani highlights challenges faced, including the Carmichael coal mine protests and the 2023 Hindenburg report, stressing the group's strength and financial stability.
Adani stocks rally up to 9% as Japanese banks repose faith
Adani Share Price: Indian banks including SBI are reassessing their exposure to Adani stocks following bribery and fraud charges against Chairman Gautam Adani. While some global banks reconsider their stance, Japanese banks plan to maintain their support. SBI remains cautious but will continue funding near-completion projects of the Adani group.
My name not mentioned anywhere, says former Andhra CM Jagan on Adani bribe controversy
YSRCP's YS Jagan Mohan Reddy refuted bribery allegations linked to the Adani Group's solar power purchases and clarified his non-involvement. He highlighted the cost-saving power agreement with SECI and dismissed opposition claims as mudslinging. Reddy also threatened legal action against misinformation.
Airports to cooking oil: The many businesses of Gautam Adani
Indian conglomerate Adani Group, led by billionaire Gautam Adani, faces US accusations of a $265 million bribery scheme related to Indian power contracts. The group denies the allegations. Adani's vast empire spans energy, ports, airports, food, cement, media, and defense.
¡°Adani¡¯s time wasted in court¡±: Norway diplomat calls for end to American overreach
Erik Solheim, former UN Environment Programme Executive Director, has called the recent US report on the Adani Group a case of "American overreach." Solheim, along with Indian legal experts like Mahesh Jethmalani, dismissed the allegations of bribery as politically motivated and lacking evidence. The Adani Group also denied the claims, emphasising that no top executives were implicated and there was no proof of bribe payments.
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Xi Jinping cracks down again, third in a row: Dong Jun, China's defence minister, under probe for corruption
China¡¯s anti-corruption drive has reached the highest ranks of its military, with Defence Minister Dong Jun becoming the latest figure under investigation.
Obviously, he's going to deny charges: Rahul Gandhi takes on centre on bribery allegations against Gautam Adani
Rahul Gandhi demanded Gautam Adani's arrest following US court charges, despite Adani Group's denial of bribery allegations. Gandhi emphasized the severity of the charges, contrasting them with arrests made for lesser offenses, and accused the government of shielding Adani.
PFC & REC see no impact on loans to Adani projects
Indian state-owned lenders PFC and REC express confidence in Adani Group project loans. Existing projects are largely operational, and loan repayments are current. Lenders emphasize project-specific financing based on revenue. Future loan decisions will follow standard procedures. This follows the indictment of Adani officials, impacting Adani Green Energy, Adani Transmission, and Adani Ports.
Naidu government explores options to keep SECI solar deal alive amid bribery allegations against Adani group
The Andhra Pradesh government is exploring options to maintain its 2021 solar power deal with SECI despite a US bribery scandal involving the Adani Group. Prioritizing investment and job creation, the state prefers revising the deal to establish the plant locally, reducing transmission costs.
Hundreds of people arrested on 'tiny' charges, why is Adani not in jail, asks Rahul
Congress alleges Adani Group is attempting to downplay US bribery accusations. Rahul Gandhi questions why Adani hasn't been arrested, accusing the government of protection. Congress demands a thorough parliamentary discussion and impartial investigation by agencies and SEBI. They cite actions taken against Adani by other countries following the indictment.
Congress demands discussion on Adani indictment in Parliament, urges CBI probe
Congress has demanded a parliamentary discussion on the US indictment of Gautam Adani, alleging bribery and securities fraud. Adani is accused of bribing officials for solar power deals, raising concerns about India's integrity. The Adani Group denies these allegations, stating the indictment misrepresents the charges and that no bribes were paid to Indian officials.
Adani Wilmar said to defer stake sale amid US bribery charges
Adani Enterprises and Wilmar International are reportedly delaying a 12% stake sale in their Indian food venture, Adani Wilmar Ltd., following a US bribery indictment against Gautam Adani. The sale, initially planned for this month, aimed to meet regulatory compliance on public shareholding.
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.
US agency conducting due diligence on Adani¡¯s Sri Lanka project
A US agency is reviewing a loan given to an Adani Group company for a port project in Sri Lanka. The agency is conducting due diligence after bribery allegations were made against the Adani Group's founder. The loan, worth over 500 million dollars, was announced last year. It was intended to be the agency's largest infrastructure investment in Asia.
Adani Group stocks fall up to 8% after Fitch places some Adani bonds on negative watch over US bribery charges
Adani Group stocks fell sharply. Fitch placed some Adani bonds on negative watch. US authorities indicted Adani executives on bribery charges. TotalEnergies paused investments in Adani Group. Adani's dollar bonds stabilized after initial falls. The Adani Group denied the allegations.
Adani stocks jump up to 7% as investors look beyond bribery charges
Congress MPs raised bribery charges against Adani Group. Congress's RS MP Pramod Tiwari said his party wanted the Adani issue to be taken up in Parliament as the first thing when it met on Monday. "It is a grave issue involving the country's economic and security interests as over Rs 2,300 crore was allegedly paid by the company to politicians and bureaucrats to get favourable deals for its solar energy projects," he said.
Adani charges to test Trump¡¯s desire to keep India in US orbit
The arrest of Indian billionaire Gautam Adani on bribery charges has created a diplomatic dilemma for incoming US President Donald Trump, who seeks closer ties with India to counter China. While Trump's personal relationship with Indian Prime Minister Narendra Modi might encourage intervention, the case highlights the global reach of US law and India's strategic balancing act between major powers.
Adani bonds slide to year low as investors weigh bribery allegations
Adani Group's dollar bond prices dropped to their lowest point in a year. This decline followed allegations of bribery and fraud from US authorities. The charges involved payments made to Indian government officials. These payments aimed to secure contracts and advance the development of a solar power project.
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.
Adani CFO says bribery allegations linked to single business contract
Adani Group's CFO, Jugeshinder Robbie Singh, defended the conglomerate against US bribery allegations, stating that they involve a single contract representing about 10% of Adani Green Energy's business. Singh emphasized that the accusations are limited to a specific contract and do not involve any wrongdoing by other Adani Group companies.
'Damaging' Andhra Brand: Chandrababu Naidu promises action over Adani Group's US bribery case
Former Andhra Pradesh Chief Minister Chandrababu Naidu pledged to act on bribery allegations against the previous administration and the Adani Group. The US SEC alleges kickbacks were offered to secure a solar power deal. Naidu acknowledged the damage to the state's reputation and vowed to prevent future occurrences.
Will study US "chargesheet reports", act on it, says Andhra CM on Adani bribery case
Andhra Pradesh Chief Minister N Chandrababu Naidu stated that the state government possesses US chargesheet reports detailing an alleged bribery scheme involving the former YSRCP government and the Adani Group. Naidu pledged to investigate the reports and take appropriate action, emphasizing the damage the allegations have caused to the state's reputation.
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.
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.
BJP hits back at Rahul Gandhi, points to opposition rule in states tied to Adani allegations
The BJP countered Rahul Gandhi's criticism of Prime Minister Modi regarding the Adani case, stating that the states mentioned in the US court documents, where bribes were allegedly paid, were all governed by opposition parties during the relevant period.
Adani bribery allegations: TDP decides to wait and see despite records detailing official meeting under Jagan govt
The Telugu Desam Party (TDP) is cautiously observing the situation following accusations that the Adani Group bribed a senior official in the former YSR Congress government. A US indictment alleges the bribes were paid to secure a power purchase agreement, but it doesn't name the official.
No comments for now over Adani solar power row, says TDP on allegations of bribes to Andhra officials for purchases
Telugu Desam Party (TDP), an NDA ally, is currently reviewing the allegations against the Adani Group regarding potential bribes paid for solar power contracts in Andhra Pradesh. The US Department of Justice has charged Gautam Adani and others, but the Adani Group denies these claims. TDP plans to announce its stance after a thorough examination of the situation.
Sambit Patra slams Rahul Gandhi over press conference, refers to Adani allegations as political gimmicks
BJP spokesperson Sambit Patra refuted Rahul Gandhi's allegations against Gautam Adani and SEBI chairperson Madhabi Puri Buch, calling them baseless. Patra likened Gandhi's accusations to past claims that lacked evidence. Gandhi, however, alleged a connection between Adani and PM Modi, pointing to the recent indictment of Adani and two executives by U.S. prosecutors for bribery.
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