Exchanges seek clarification on disclosure violations by Adani Group entities
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.
Billionaire Gautam Adani, his nephew Sagar Adani, and others have been charged by US prosecutors with allegedly being part of an elaborate scheme to pay USD 265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts.
The United States Department of Justice and the US Securities and Exchange Commission (SEC) have issued a criminal indictment and brought a civil complaint, respectively, in the US District Court for the Eastern District of New York, against Gautam Adani and Sagar Adani.
Adani Group on Thursday denied 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. It said all possible legal recourse will be sought.
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