BRIBERY AND FRAUD SCHEME
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.
Sebi begins inquiry into alleged false statements by Adani Group
The regulator has sought information from stock exchanges regarding Adani Green Energy's communications on US investigations, they said, and will consider launching a formal probe after receiving the reports from the bourses.
What's next for Gautam Adani after U.S. bribery, fraud charges?
Indian billionaire Gautam Adani faces charges in the U.S. for allegedly orchestrating a massive bribery scheme to secure solar energy contracts. Prosecutors allege over $250 million in bribes were paid to Indian officials. While Adani remains in India, he could face extradition and decades in prison if found guilty.
Adani Group stocks reverse losses, surge up to 4% a day after US charges Gautam Adani
Adani Enterprises Share Price: Most Adani Group stocks ended in the green on Friday after witnessing significant cuts on Thursday following a US court's indictment of Chairman Gautam Adani and seven others in a bribery case. Ambuja Cement and ACC saw significant gains. The Adani Group, has however, denies the allegations.
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.
- Go To Page 1
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.
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.
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.
Opposition assails government, Adanis after group charged with paying bribe, says will raise matter in Parliament
The Adani Group faces accusations of bribery and fraud from US prosecutors, prompting calls for investigation from Indian opposition parties. Rahul Gandhi urges for Gautam Adani's arrest and a probe into SEBI's role, while the Adani Group denies all allegations.
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".
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.
'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.
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.
Indian tycoon Adani's US indictment spooks investors; bonds fall again
The Adani Group's bonds faced pressure for a second day following fraud charges against founder Gautam Adani by U.S. prosecutors. Despite the group's denial and assurance to investors, its companies lost billions in market value. U.S. prosecutors allege involvement in a $265 million bribery scheme, leading to arrests and investigations.
How Indian billionaire Gautam Adani's alleged bribery scheme took off and unraveled
Indian billionaire Gautam Adani and associates are facing U.S. charges for allegedly orchestrating a multi-million dollar bribery scheme to secure a solar energy contract. Authorities allege Adani bribed local Indian officials to ensure the purchase of solar power, misleading U.S. investors in the process. The alleged scheme, spanning several years, involved falsified documents and hidden transactions during fundraising efforts.
US charges against Gautam Adani, others spark legal and financial turmoil for Adani Group
The US Department of Justice has charged Gautam Adani, his nephew, and six others with orchestrating a massive corruption scheme that defrauded US investors. The indictment alleges the Adani Group bribed Indian officials to secure contracts, leading to the cancellation of a major airport expansion project in Kenya. Adani Group denies the allegations and vows to pursue legal action.
Modi's ties with Adani tremendous risk to foreign policy: Congress leader Ramesh
Congress leader Jairam Ramesh criticizes Prime Minister Narendra Modi's ties to Gautam Adani, stating they pose risks to India's foreign policy and economic interests. Ramesh highlights Kenya's cancellation of airport and power deals with the Adani Group following US indictments for alleged bribery.
Adani bribery probe: US SEC led by two officers of Indian origin
Sanjay Wadhwa, who leads the US SEC's enforcement division, is investigating bribery allegations against the Adani family. Wadhwa, promoted in October, has extensive experience in securities law enforcement. The complaint, filed by Tejal Shah, alleges Adani bribed officials to secure power generation contracts.
Long way before charges against billionaire Gautam Adani are framed
The US Department of Justice has indicted billionaire Gautam Adani and seven others on charges of bribery, fraud, and obstruction of justice. The indictment alleges a scheme to bribe Indian officials and defraud US investors. Adani maintains his innocence, and the case will now proceed to trial.
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.
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.
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.
Who are the defendants charged in US indictment of Gautam Adani?
US authorities have charged Gautam Adani and seven others with bribery and fraud. They are accused of paying bribes to secure a solar energy project in India. The charges involve Adani Group, Adani Green Energy, and Azure Power. Adani Group denies the charges. CDPQ, a Canadian investment firm, confirms its former employees are involved and is cooperating with US authorities.
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.
Adani Ports shares sink 20% as Gautam Adani faces US bribery charges
Adani Ports Share Price: Shares of Adani Ports & Special Economic Zone plunged 20% to Rs 993.85 on Thursday after U.S. prosecutors indicted Gautam Adani, his nephew Sagar Adani, and six others on charges of bribery and fraud. The indictment claims the group offered $265 million in bribes to Indian officials to secure solar contracts, potentially generating $2 billion in profits over 20 years.
Rupee weakens to record low pressured by foreign portfolio outflows
The Indian rupee plummeted to a historic low against the US dollar due to a mass exodus of foreign investments from the Indian stock market. This decline was fueled by a steep drop in Adani group shares following allegations of a bribery scheme and uncertainty surrounding the Federal Reserve's interest rate policy.
Gautam Adani indicted in US over role in alleged bribery, fraud
Gautam Adani Bribery Case: Primarily, the charges are: "Conspiracy to commit securities and wire fraud, as well as substantive securities fraud, for their roles in a multi-billion-dollar scheme to obtain funds from US investors and global financial institutions through false and misleading statements".
Load More
