GAUTAM ADANI BRIBERY CASE
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.
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.
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.
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.
Competition regulator unlikely to take cognizance of media reports on Adani bribery issue
Ravneet Kaur, CCI Chairperson, stated that the regulatory body is unlikely to investigate the bribery allegations against the Adani Group based solely on media reports. Kaur emphasized that the CCI operates under the Competition Act and requires formal information filing before initiating any action.
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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.
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.
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.
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.
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.
'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.
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.
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.
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 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.
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.
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".
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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