Gautam Adanigroup News

Competition Commission of India (CCI) Chairperson Ravneet Kaur on Friday hinted that the fair trade regulator is not likely to take cognizance of media reports on the bribery charge against the Adani group to initiate a probe, claiming that the panel takes steps only after some information is filed before it. Billionaire Gautam Adani has been charged by US prosecutors for allegedly being part of a scheme to pay over USD 250 million (about Rs 2,100 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts. Adani group on Thursday denied the charges of paying bribes to secure favourable terms for solar power contracts, saying the allegations by US prosecutors are baseless and the conglomerate is compliant with all laws. On whether the Adani matter falls under the purview of CCI, Kaur said, «The CCI is governed by the Competition Act… It is meant to promote and sustain competition. If there is any matter which falls in that domain of the Competition Act, then it comes to Competition Commission.»

Indian tycoon Gautam Adani, one of Asia’s richest men, may be facing his biggest challenge yet with an indictment by U.S. prosecutors for alleged fraud and bribery

Siddaramaiah on Friday said the Centre was not taking action to have Adani Group chairman Gautam Adani arrested though an arrest warrant had been issued against him, joining AICC leader Rahul Gandhi in attacking the billionaire industrialist. The CM’s attack followed the US Justice Department charging the billionaire with colluding in a corruption scheme to win solar energy contracts in India. In Andhra Pradesh, chief minister N Chandrababu Naidu struck a cautious note when he informed the assembly that the government would study the charges that were in public domain and act on them. In Karnataka, Siddaramaiah, in a chat with the media in Mysuru, said the Centre must take steps to have Adani arrested, and the high-profile businessman must not be allowed to escape. “The entire country knows who is protecting Adani,” he said, while blaming the media for not highlighting it.

fraud indictments, the group is yet to respond to the bourses. While there was no word from Sebi officials, experts pointed out the regulator will have to definitely look into it if there are any disclosure and other violations and take necessary action.

Subscribe to enjoy similar stories. Indian billionaire Gautam Adani and some associates are facing serious allegations of fraud brought by the US attorney’s office in New York. According to prosecutors, the Adani group orchestrated a yearslong scheme involving the payment of $250 million in bribes to Indian government officials to secure favourable terms for solar power contracts awarded to Adani Green Energy Ltd and Azure Power Global Ltd, a New Delhi-based firm that was previously listed on the New York Stock Exchange.

Andhra Pradesh BJP president D Purandeswari on Friday said the allegations emanating from the US against the Adani Group raises serious questions and claimed that all those linked to these allegations are associated with the Congress party. Business tycoon and Adani Group chairman Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay USD 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, an allegation refuted by the Indian conglomerate. «Recent allegations from the U.S. SEC (Securities and Exchange Commission) against the Adani Group have raised serious questions… this situation poses a significant question for Rahul Gandhi, since all individuals linked to these corruption allegations are associated with the Congress party and none are from the BJP,» said Purandeswari in a post on X.

Sagar Adani, the nephew of industrialist Gautam Adani, and six others in connection with an alleged bribery and fraud scheme linked to a renewable energy project in India. Prosecutors allege that the defendants, including Gautam Adani, conspired to pay $265 million in bribes to Indian government officials to secure contracts for developing India's largest solar power plant. The Adani Group has denied the allegations, terming them baseless. The company has stated that it will explore “all possible legal recourse” to address the charges.

Sensex and Nifty tumbled on Thursday amid a sharp fall in Adani group stocks after billionaire industrialist Gautam Adani was charged in the US for alleged bribery and fraud. Stocks that were in focus include names like Paytm, which rose nearly 3.65% and IndiGo, which gained marginally by 0.55% and Varun Beverages, whose shares fell nearly 1% on Thursday.

rupee hit a fresh record low level on Thursday, closing at 84.49 per US dollar, due to outflows from local stocks that were dragged further down due to weakening of Adani group shares and the safe-haven dollar demand from foreign investors. The rupee closed at its all-time low of 84.4925 per US dollar, down nearly 0.1% on Thursday. On an intraday basis, the local currency touched a record low of 84.495/$1, LSEG data showed.

Adani Group bonds fell 5-10 cents Thursday after a US court indicted chairman Gautam Adani and senior executives over allegations of paying $265 million in bribes to secure solar power contracts in India. 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

Subscribe to enjoy similar stories. Adani group executives’ indictment in a bribery case in the US roiled the Indian markets, with the conglomerate’s stocks taking a massive hit in the ensuing selloff. The turbulence followed an announcement from the US Attorney’s Office in New York in the early hours of Thursday (India time), indicting group chairman Gautam Adani and seven senior executives.

Subscribe to enjoy similar stories. Every Friday, Plain Facts publishes a compilation of data-based insights, with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. The shares of Adani group companies plunged on Thursday after the US indicted chairman Gautam Adani and other executives for allegedly bribing Indian officials.

Subscribe to enjoy similar stories. The US indictment of billionaire Gautam Adani in a $250 million bribery case could set the stage for a lengthy legal process involving a multi-jurisdictional defence.

Kenya’s president says he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after U.S. bribery and fraud indictments against one of Asia’s richest men

One of Asia’s richest men, controversial Indian tycoon Gautam Adani, is again in the spotlight

Life Insurance Corporation of India (LIC), which has stakes in seven Adani Group stocks, witnessed an erosion of Rs 8,683 crore in the overall holding value in a single session on Thursday after a US court indicted Chairman Gautam Adani and several others in a $250 million bribery case. LIC holds stakes in Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), Adani Green Energy, Adani Energy Solutions, Adani Total Gas, ACC and Ambuja Cements.

Subscribe to enjoy similar stories. Two whistleblower complaints flagging financial impropriety at a small New York Stock Exchange-listed company marked the start of a two-year probe by the US government into the Adani group.

Adani Group, helmed by billionaire Gautam Adani, bounced back from the attack by American short-seller Hindenburg Research, which had accused it of stock manipulation and fraud, the conglomerate has suffered a massive hit as prosecutors in the United States charged Gautam Adani with helping drive a $250 million bribery scheme. Stocks of Adani Group companies fell up to 20% on Thursday after Adani and seven others faced charges in the US. Prosecutors have alleged that the group bribed Indian officials to secure solar energy contracts. The US prosecutors have charged Adani and others because they allege the defendants concealed the plan to pay more than $250 million in bribes to Indian government officials to win solar energy contracts as they sought to raise money from US investors. The mega Adani deal that has landed in controversy

Gautam Adani charged in an alleged bribery and fraud case in the US, Trinamool Congress MP Saket Gokhale on Thursday asked if the Narendra Modi-led government was involved in it. Gokhale said while markets were reacting to the news of the indictment, the government was «silent» on the issue. Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay USD 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. The BJP, reacting to Congress's attack on the issue, questioned the timing of the development, as it came just before the start of the Parliament session and Donald Trump's impending presidency. All the states mentioned in the indictment where government officials were paid bribes allegedly by the Adani Group were Opposition-ruled during that time, BJP's IT department head Amit Malviya said.

Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world's richest people, has been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme, U.S. prosecutors said on Wednesday. Authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2 billion of profit over 20 years. According to an indictment, some conspirators referred privately to Gautam Adami with the code names «Numero uno» and «the big man,» while Sagar Adani allegedly used his cellphone to track specifics about the bribes. Prosecutors also said the Adanis and another executive at Adani Green Energy, Vneet Jaain, raised more than $3 billion in loans and bonds for that company by concealing the corruption from lenders and investors.

One of the world’s richest people has been indicted in the U.S. on charges he duped investors in a massive solar energy project in India by concealing that it was being facilitated by an alleged bribery scheme