Gautam Adanigroup News

Subscribe to enjoy similar stories.MUMBAI: The US market regulator’s $18-million settlement of a civil case against Indian billionaire Gautam Adani and nephew Sagar Adani has no immediate bearing on a parallel criminal investigation initiated against them by the US Department of Justice (DoJ).The Securities and Exchange Commission (SEC) and the Adanis acknowledged that the settlement does not grant them immunity from any criminal liability related to the case, they said in their filings with a New York court.“This settles the civil action brought by the Securities and Exchange Commission. It has no implications for the existing criminal charges brought by the DoJ or any other criminal investigation that may be pending,” said Russell A.

Subscribe to enjoy similar stories.India's top business leaders, including billionaires Gautam Adani and Sunil Bharti Mittal, on Monday endorsed Prime Minister Narendra Modi’s call to reduce consumption of import-dependent commodities like fuel and gold to conserve precious foreign exchange as a protracted West Asia war fuels price rise.They also called for strengthening domestic investments, accelerating energy transition, and ensuring self-sufficiency in compute for artificial intelligence (AI) to help insulate the economy from future global shocks.The industry leaders were speaking at the Annual Business Summit 2026 of the Confederation of Indian Industry (CII).“We need to get away from this obsession of gold. We need to lower our energy cost.

Mint takes a look at the arguments made by the high-profile Adani counsels and the road ahead in the case.The SEC has alleged that billionaire businessman Gautam Adani and Sagar Adani, among others, paid $250 million in bribes to unnamed government officials in India to secure favourable power-supply contracts for Adani Green Energy Ltd.The regulators further claimed that when raising capital from American investors, the Adanis did not tell them about the alleged bribes while stating the company’s anti-bribery policies, thus misleading investors and committing securities fraud.The Adani Group has denied any wrongdoing.The Adani lawyers filed a motion to dismiss the SEC case based on a lack of personal jurisdiction. The Adani kin are neither residents of the United States nor did they purposefully direct their activities towards the country, the counsels said in their motion.Gautam Adani did not personally authorize the issuance of the $750 million bonds under question or direct the sale of these bonds in the US, they said.

Subscribe to enjoy similar stories. MUMBAI: Adani Group chairman Gautam Adani and his nephew Sagar Adani have hired prominent attorneys in the US—including one of Donald Trump’s lawyers and a former Mafia prosecutor—to represent them in their defence against allegations of securities fraud levelled by the Securities and Exchange Commission (SEC). The senior Adani has appointed law firm Sullivan & Cromwell LLP with Robert Giuffra leading the team representing him, as per a court filing dated 30 January.

Subscribe to enjoy similar stories. MUMBAI : The securities fraud proceedings against Adani Group chair Gautam Adani and his nephew Sagar Adani—over allegations of paying bribes to unnamed Indian government officials and misleading American investors—have broken a year-long political stalemate, making way for a potentially long legal battle in a US court.

MUMBAI: After spending nearly $10 billion over three years to build India’s second-largest cement business, the Adani Group is moving to simplify what has become a sprawling corporate structure.The board of Ambuja Cements Ltd, part of billionaire Gautam Adani’s conglomerate, late on Monday approved a plan to merge ACC Ltd and Orient Cement Ltd into Ambuja. Ambuja currently holds 50.05% in ACC and 72.66% in Orient.

Adani Group stocks have been on a strong upward run, adding nearly Rs 40,000 crore in market capitalization over the past 15 days. Except for Adani Enterprises, all group stocks ended higher on Thursday, coinciding with a significant boost for the company as Chairman Gautam Adani emerged as the top Indian wealth gainer in the Hurun World Rich List. Adani, whose wealth surged by around Rs 1 lakh crore, still lagged Mukesh Ambani, who claimed the title of Asia's wealthiest. However, Ambani dropped out of the world's top 10 wealthiest list, following a hit to his fortunes due to the poor performance of RIL. Gautam Adani's fortune grew by 13% in 2024, enabling him to rank among the top three in India.

Adani Group Chairman Gautam Adani announced on Sunday. Initially planned for an April 17 launch, the airport's inauguration has been rescheduled. The greenfield airport, the second major aviation facility in the Mumbai Metropolitan Region after Chhatrapati Shivaji Maharaj International Airport, is being developed by Navi Mumbai International Airport Ltd (NMIAL). The project is a 74:26 joint venture between Adani Airport Holdings Ltd (AAHL) and City and Industrial Development Corporation of Maharashtra (CIDCO).

Sri Lanka has not changed its stance on doing business with India's Adani Group and welcomes investment opportunities from the conglomerate, the country's cabinet spokesperson said on Tuesday. Gautam Adani, the chairman of the ports to power business group, and top executives of Adani Green were indicted by U.S. prosecutors last year for their alleged role in a $265 million scheme to bribe Indian officials to secure solar power deals. Adani and the executives have denied any wrongdoing. Sri Lanka, however, had said it was «unconcerned» by the group's dealings with other countries. «But Sri Lanka remains firm on negotiating purchasing costs of power generated from the wind power projects,» the cabinet spokesperson said, referring to the two proposed wind power projects Adani has withdrawn from.

Adani Group is reportedly reigniting its ambitions for significant investments in the United States, the Financial Times reported on March 2 citing sources «familiar with the development». This development assumes importance in light of ongoing criminal allegations against Gautam Adani, the conglomerate’s wealthy founder. The business group, which specializes in infrastructure, has resumed its interest in financing projects across various sectors in the US, including nuclear energy, utilities, and a port on the east coast, according to four individuals connected to Gautam Adani, the group’s founder and chairman, the FT report said. Following Donald Trump's election as president last year, Adani, who ranks among India's most influential industrialists, initially committed to investing $10 billion in the United States, a move that was expected to generate approximately 15,000 jobs. However, those intentions appeared to be sidelined shortly thereafter when Adani and seven others faced indictments from US authorities for their involvement in an alleged $265 million bribery scheme related to solar energy in India.

Gautam Adani on Tuesday revealed that the Adani Group will be investing Rs 50,000 crore in Assam. This development was shared during the inaugural day of the Assam Advantage Summit, a key event aimed at boosting the state's growth prospects.

Adani Group, a major leader in infrastructure development, has released its Tax Transparency Reports for the fiscal year 2023-2024.

US Securities and Exchange Commission (SEC) has asked India's Ministry of Law and Justice to help serve legal notices to industrialist Gautam Adani and his nephew Sagar in connection with its probe into alleged securities fraud and a $265 million bribery scheme.

Adani Group stocks tumbled in early trading on Wednesday, with shares of Adani Enterprises dropping as much as 4.3%, following reports that the US Securities and Exchange Commission (SEC) sought assistance from Indian authorities in its probe into the conglomerate’s founder, Gautam Adani, and his nephew, Sagar Adani, over alleged securities fraud and a Rs 2,300 crore bribery scheme. The SEC informed a US district court on Tuesday that its efforts to serve legal complaints to the Adanis were ongoing and that it was working with India’s Ministry of Law and Justice for assistance, Reuters reported. This development triggered fresh concerns among investors, leading to a broad sell-off across Adani Group stocks at the market open.

Adani Group has appointed US law firms Kirkland & Ellis and Quinn Emanuel Urquhart & Sullivan LLP among others amid civil and criminal cases filed by the Securities and Exchange Commission (SEC) and the Eastern District of New York, according to sources. They are among the world's largest litigation firms.

Adani Group has committed investments worth Rs 75,000 crore in Chhattisgarh in sectors ranging from power, cement, education, health, skill, and tourism, announced the state's Chief Minister's Office. This comes after Chhattisgarh Chief Minister Vishnu Deo Sai and Adani Group Chairman Gautam Adani had a meeting. CMO Chhattisgarh in post on social media platform X said that the Chairman of the Adani Group announced a planned investment of Rs 60,000 crore to expand the group's power plants in Raipur, Korba, and Raigarh. This expansion is expected to enhance Chhattisgarh's total power generation capacity by an additional 6,120 MW.

Adani Energy Solutions Ltd (AESL). The tenders were floated as four packages in August 2023 for providing the smart meters under the central government's revamped distribution sector scheme.

solar power contract, which is at the centre of bribery allegations, has tariffs that are lower than competition and can find new buyers in case the pact is cancelled, according to analysts. US authorities have charged Adani Group Founder-Chairman Gautam Adani and others for being part of a scheme to offer USD 265 million bribe to Indian officials to gain a contract to supply 8 gigawatt of electricity generated from solar energy by Adani Green Energy Ltd (AGEL). The group has denied all charges. «If Adani promoters are found guilty, we believe the size of potential penalty is manageable given it is up to three times the value of the bribe,» Nomura said in a report. The brokerage said there are about 1.8 GW solar projects commissioned in Gujarat from February-March 2024, with tariff of Rs 2.42 per unit under the 25-year power purchase agreements (PPAs).

Adani Group, currently facing impropriety allegations involving one entity of its diversified business empire, is now on a stronger footing than when the to-date unproven charges by US short-seller Hindenburg dramatically shrank the conglomerate's market value early 2023, global brokerage Bernstein said, citing both operating and financing metrics. The brokerage referred to a lower quantum of pledged shares, stronger debt coverage ability, and better relative valuations for some of the companies to justify its current assessment of the group, after billionaire founder Gautam Adani and his nephew Sagar Adani were indicted late November on alleged impropriety charges by the US Department of Justice.