Gautam Adani Devised Bribery Scheme To Make Indian Govt Entity Buy Solar Power From His Company: US Dept Of Justice
1 month, 3 weeks ago

Gautam Adani Devised Bribery Scheme To Make Indian Govt Entity Buy Solar Power From His Company: US Dept Of Justice

Live Law  

According to the charges filed by the United States Department of Justice in a U.S. court, Gautam Adani, along with others, orchestrated a million-dollar bribery scheme in the USA to bribe Indian government officials. Therefore, Gautam Adani, along with Adani company executives Sagar Adani & Vneet Jaain, and certain other officials of the US company, devised a scheme to bribe Indian government officials in exchange for SECI making state companies agree to purchase the power sold by SECI. As a result, in or about 2020, the defendants GAUTAM S. ADANI, SAGAR R. ADANI, VNEET S. JAAIN, RANJIT GUPTA and Co-Conspirator #2, among others, devised a scheme to offer, authorize, make and promise to make bribe payments to Indian government officials in exchange for the government officials causing state electricity distribution companies to enter into Power Sale Agreements with SECI, which would allow the Indian Energy Company's subsidiaries and the U.S. Issuer to secure PPAs with SECI," the US DoJ stated. “As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and Gautam S. Adani, Sagar R. Adani and Vneet S. Jaain lied about the bribery scheme as they sought to raise capital from U.S. and international investors,” stated United States Attorney Peace.

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History of this topic

CPI wants APERC to scrap agreements with Adani
2 days, 17 hours ago

CPI wants APERC to scrap agreements with Adani

The Hindu  

The Communist Party of India on Wednesday expressed its objection to the true-up charges being levied on power consumers by the State Discoms. In a memorandum submitted to the AP Electricity Regulatory Authority, CPI state secretary K. Ramakrishna demanded that the APERC scrap the State’s agreement with the Adani Group through the Solar Energy Corporation of India. The U.S. Department …

‘What will US do if India refuses…’: Congressman warns Joe Biden over Gautam Adani bribery probe
Trending News
3 days ago

‘What will US do if India refuses…’: Congressman warns Joe Biden over Gautam Adani bribery probe

Live Mint  

A United States Congressman has warned the ongoing Joe Biden administration of risking America's critical alliance with India over its decision to investigate the activities of Indian billionaire Gautam Adani. Terming it “selective”, the US lawmaker said such actions could risk damaging critical alliances with key partners such as India. In a letter to US Attorney General Merrick B Garland, …

Civil, criminal cases against Gautam Adani, others related, assigned to one judge: Court order
1 week ago

Civil, criminal cases against Gautam Adani, others related, assigned to one judge: Court order

Deccan Chronicle  

New York: A New York court has ordered that the criminal and civil cases filed against Indian billionaire Gautam Adani and others in a bribery scheme are related and will be assigned to the judge overseeing the criminal case.The order available on the court website of the US District Court Eastern District of New York says that in consultation with …

Can’t cancel deal with Adani sans evidence: Naidu
1 week, 1 day ago

Can’t cancel deal with Adani sans evidence: Naidu

Hindustan Times  

Hyderabad: Andhra Pradesh chief minister N Chandrababu Naidu has said his government cannot unilaterally cancel solar power purchase agreements signed by the previous administration, despite a US federal bribery indictment against billionaire Gautam Adani and his company over allegations connected to the contract. Naidu cited legal complexities surrounding the 7,000-megawatt solar power contract signed with the Solar Energy Corporation of …

Tamil Nadu cancels smart meter tender awarded to Adani Energy Solutions
Trending News
1 week, 3 days ago

Tamil Nadu cancels smart meter tender awarded to Adani Energy Solutions

Deccan Chronicle  

The Tamil Nadu Power Distribution Corporation has cancelled a global tender floated for procuring smart meters, citing the high cost quoted by Adani Energy Solutions Ltd.The tenders were floated as four packages in August 2023 for providing the smart meters under the central government's revamped distribution sector scheme.AESL, a BSE-listed firm was the lowest bidder for package 1 of the …

State govt doesn’t have info on Adani’s TN visit: RTI reply
3 weeks, 2 days ago

State govt doesn’t have info on Adani’s TN visit: RTI reply

Hindustan Times  

The Tamil Nadu government on Wednesday said it does not have information regarding Adani Group’s founder- chairman Gautam Adani’s visit to Chennai in July in response to an RTI query regarding officials the industrialist in the city, people familiar with the matter said. A Chennai-based anti-corruption organisation, Arappor Iyakkam, had filed the RTI on December 10 addressed to the directorate …

Adani deal under bribery scrutiny was approved against officials’ advice
3 weeks, 3 days ago

Adani deal under bribery scrutiny was approved against officials’ advice

The Hindu  

The approach from the Solar Energy Corporation of India on September 15, 2021 came out of the blue. Two years earlier, Andhra Pradesh's energy regulator had said in a 10-year forecast the State had no short-term need for solar power, and should focus on other renewables that could provide 24-hour energy. The news agency spoke to a former State power …

Adani-Andhra Deal Approved Against Officials' Advice, Under Bribery Scrutiny
3 weeks, 4 days ago

Adani-Andhra Deal Approved Against Officials' Advice, Under Bribery Scrutiny

Deccan Chronicle  

The approach from the Solar Energy Corporation of India on Sept. 15, 2021 came out of the blue. The federal agency, tasked with developing the solar sector, wanted to know if the southeastern state of Andhra Pradesh would like to sign India's largest renewables contract.Two years earlier, Andhra Pradesh's energy regulator had said in a 10-year forecast the state had …

Cancel pact with SECI, CPI secretary writes to CM Chandrababu Naidu
3 weeks, 6 days ago

Cancel pact with SECI, CPI secretary writes to CM Chandrababu Naidu

New Indian Express  

VIJAYAWADA: CPI State secretary K Ramakrishna on Saturday wrote a letter to Chief Minister N Chandrababu Naidu, urging him to find ways to cancel the agreement for 7000 MW with Solar Energy Corporation of India. In the letter, he stated that when it was crystal clear from the reports of intelligence agencies in the USA that Adani Group bribed former …

US market regulator seeks joint hearing of cases against Adani, ex-Azure Director
1 month ago

US market regulator seeks joint hearing of cases against Adani, ex-Azure Director

India Today  

The United States Securities and Exchange Commission has approached a New York court with a formal request to consolidate the civil cases against Indian industrialist Gautam Adani and Azure Power's Cyril Cabanes. While Gautam Adani and his nephew Sagar Adani have not been directly charged with FCPA violations - a fact repeatedly emphasised by their legal counsel, including prominent lawyers …

Why it's a rocky road ahead for Adani Group
1 month, 1 week ago

Why it's a rocky road ahead for Adani Group

India Today  

Gautam Adani’s biographer calls him ‘destiny’s child’. However, a US court indictment which said that, starting in 2020, top honchos of Azure Power—an Indian solar power producer that was listed on the New York Stock Exchange—connived with Adani and two of his senior executives to give $265 million in bribes to government officials across five Indian states in return for …

Adani Green Energy Shares Surge 9% Amid Allegations; Gautam Adani Asserts Resilience
1 month, 1 week ago

Adani Green Energy Shares Surge 9% Amid Allegations; Gautam Adani Asserts Resilience

ABP News  

Shares of Adani Green Energy Ltd witnessed a sharp jump of 9 per cent on Monday, trading at Rs 1,445 on the BSE, following a defiant statement from Adani Group chairman Gautam Adani. Performance of Adani Group Stocks While Adani Green Energy saw significant gains, other group stocks showed mixed results: Adani Ports rose 2 per cent, Ambuja Cements gained …

U.S. indictment: Committed to ‘world-class’ compliance, says Gautam Adani
1 month, 1 week ago

U.S. indictment: Committed to ‘world-class’ compliance, says Gautam Adani

The Hindu  

Adani Group founder Gautam Adani responded for the first time on Saturday to allegations by U.S. authorities that he was part of a $265 million bribery scheme, saying that his ports-to-power conglomerate was committed to world class regulatory compliance. Gautam Adani indictment: In-depth coverage “Less than two weeks back, we faced a set of allegations from the U.S. about compliance …

Gautam Adani breaks silence on bribery charges in US: ‘Every attack makes us stronger and…’
Trending News
1 month, 1 week ago

Gautam Adani breaks silence on bribery charges in US: ‘Every attack makes us stronger and…’

Live Mint  

Adani Group Chairman Gautam Adani on Saturday, November 30, responded to the alleged bribery and fraud allegations against the conglomerate, saying that the legal matter involving the US Department of Justice is a challenge which the Group has faced "not for the first time". What I can tell you is that every attack makes us stronger and every obstacle becomes …

Gautam Adani on US indictment: ‘Every attack makes us stronger’
1 month, 1 week ago

Gautam Adani on US indictment: ‘Every attack makes us stronger’

Hindustan Times  

Billionaire industrialist Gautam Adani on Saturday responded to allegations against him by the United States prosecutors, saying “every attack makes him stronger”. Addressing the 51st Gem and Jewellery Awards in Jaipur, the Adani Group chairperson said,"As most of you would have read less than 2 weeks back, we faced a set of allegations from the US about compliance practises at …

Adani Green, Adani Energy Solutions jump after F&O inclusion
1 month, 1 week ago

Adani Green, Adani Energy Solutions jump after F&O inclusion

Live Mint  

The inclusion of Adani Green Energy and Adani Energy Solutions in the futures and options segment of the National Stock Exchange drew huge participation from traders and investors, sending these two stocks soaring. Friday's outsized gains helped the shares of Adani Green Energy and Adani Energy Solutions contribute the most to investor wealth creation within the eleven Adani group's listed …

Adani indictment is a ‘legal matter’ between pvt entities and US:MEA
1 month, 1 week ago

Adani indictment is a ‘legal matter’ between pvt entities and US:MEA

Hindustan Times  

NEW DELHI: India on Friday said the indictment of Indian tycoon Gautam Adani by US prosecutors is a “legal matter” involving private entities and individuals and the US Department of Justice, and the Indian side has not yet received any official request for cooperation. The comments by external affairs ministry spokesperson Randhir Jaiswal were the first official response from New …

‘Legal matter between private firms and US Department of Justice’: India on Adani indictment row
1 month, 1 week ago

‘Legal matter between private firms and US Department of Justice’: India on Adani indictment row

Hindustan Times  

India on Friday said the Narendra Modi government was not informed by the United States in advance ahead of its order indicting industrialist Gautam Adani in an alleged bribery case. US authorities indict Gautam Adani The US prosecutors on November 21 charged Gautam Adani with involvement in a plan to allegedly pay more than $250 million in bribes to government …

No request received from US on Adani case: MEA
Trending News
1 month, 1 week ago

No request received from US on Adani case: MEA

New Indian Express  

The Ministry of External Affairs has clarified that India has not received any prior communication from the United States regarding the legal proceedings involving the Adani Group and the US Department of Justice. "This is a legal matter involving private firms, individuals, and the US Department of Justice. According to the group, chairman Gautam Adani, his nephew Sagar Adani, and …

Andhra Pradesh: No Graft in Solar PPAs Through SECI, Says Jagan
1 month, 1 week ago

Andhra Pradesh: No Graft in Solar PPAs Through SECI, Says Jagan

Deccan Chronicle  

Vijayawada: Former chief minister Y.S. Affirming that the PPA was between SECI and the state government at the cheapest price of Rs 2.49 per unit, he accused certain sections of the Telugu media of spreading false narratives to tarnish the image of his previous government. I will take legal recourse and file for Rs 100 crore damages if they do …

Adani allegations shine spotlight on India’s clean energy conundrum
1 month, 2 weeks ago

Adani allegations shine spotlight on India’s clean energy conundrum

The Hindu  

Published : Nov 28, 2024 11:22 IST - 4 MINS READ Bribery allegations against the Adani Group founder Gautam Adani have highlighted the growing problem India’s renewable energy developers face in finding buyers for the power they generate. The challenges were stark in the case of Adani Green, India’s largest renewable energy company, which took over three years to strike …

Why Chandrababu Naidu is wary of calling off Andhra-Adani solar power deal
Trending News
1 month, 2 weeks ago

Why Chandrababu Naidu is wary of calling off Andhra-Adani solar power deal

India Today  

Andhra Pradesh chief minister N. Chandrababu Naidu is in a dilemma about how the state should respond to the US Justice Department’s indictment of billionaire Gautam Adani in an alleged $250 million scam in India. At the centre of the allegations is a $200 million bribe linked to a 7,000 MW power purchase agreement —described as one of the largest …

Andhra Pradesh extends power supply deadline for Adani Green Energy
1 month, 2 weeks ago

Andhra Pradesh extends power supply deadline for Adani Green Energy

Live Mint  

New Delhi: The Andhra Pradesh government has granted a second extension to Adani Green Energy Ltd for supplying renewable power after the company missed two earlier deadlines citing transmission unavailability, said three people aware of the development. To Mint's queries on the extension from the Andhra Pradesh government, a spokesperson for Adani Green said the scheduled completion date of the …

Adani ‘bribery’ case: Can Adani be arrested from India? Allegations, charges and possible penalties explained
1 month, 2 weeks ago

Adani ‘bribery’ case: Can Adani be arrested from India? Allegations, charges and possible penalties explained

Live Mint  

Gautam Adani, the billionaire Chairperson of Adani Group, is likely to face a long road to trial in the United States over criminal charges related to his alleged multi-billion-dollar fraud and bribery scheme, news agency Reuters reported on Wednesday, November 27. Adani is also accused of conspiring to pay about $265 million in bribes to Indian government officials to obtain …

Onus is on ED, CBI, SEBI to probe US charges on Gautam Adani: Jairam Ramesh
1 month, 2 weeks ago

Onus is on ED, CBI, SEBI to probe US charges on Gautam Adani: Jairam Ramesh

Hindustan Times  

The Congress on Wednesday reiterated its demand for a probe into the alleged irregularities by industrialist Gautam Adani and his nephew Sagar following a criminal indictment and civil complaint by US prosecutors and regulators. Calling the clarification by Adani Green Energy, a subsidiary of the Adani Group, as nothing but “damage control through denial”, Congress general secretary Jairam Ramesh said …

Adani Green Energy Refutes Bribery Charges Against Gautam Adani And Executives
1 month, 2 weeks ago

Adani Green Energy Refutes Bribery Charges Against Gautam Adani And Executives

ABP News  

In the latest response to the allegations against the Adani Group, Adani Green Energy Ltd issued a clarification on Wednesday, stating that there is no charges of bribery against Gautam Adani, Sagar Adani, and senior executive Vneet Jaain by the US Department of Justice. “Media articles stating that our directors Gautam Adani, Sagar Adani, and Vneet Jaain have been charged …

Gautam Adani not charged with FCPA, only securities violations involving penalties: Adani Green
1 month, 2 weeks ago

Gautam Adani not charged with FCPA, only securities violations involving penalties: Adani Green

The Hindu  

Adani Green Energy chairman Gautam Adani and other employees have not been charged for bribery or any violations of the U.S. Foreign Corrupt Practices Act, the company said on Wednesday, in its first counter to the U.S. Court indictment and the civil charges pressed by the American market regulator that became public on November 21, 2024. The U.S. Court indictment …

Ex-attorney general Mukul Rohatgi ‘clears air’ on bribery charges against Adani
Trending News
1 month, 2 weeks ago

Ex-attorney general Mukul Rohatgi ‘clears air’ on bribery charges against Adani

Hindustan Times  

Senior advocate and former attorney general Mukul Rohatgi on Wednesday addressed the media to clarify allegations against Adani Group chairman Gautam Adani, his nephew Sagar Adani, and others, stemming from a criminal indictment and civil complaint by US prosecutors and regulators. Meanwhile, Adani Green Energy Ltd. on Wednesday morning filed an official response to stock exchanges under SEBI regulations, refuting …

No bribery charges against Gautam Adani, Sagar: Adani Group
1 month, 2 weeks ago

No bribery charges against Gautam Adani, Sagar: Adani Group

Deccan Chronicle  

Billionaire Gautam Adani and his nephew Sagar Adani have not been charged with any violations of the US Foreign Corrupt Practices Act in the indictment filed by US authorities in a court in a bribery case, the Adani Group said on Wednesday.Gautam Adani, founder chairman of the ports-to-energy conglomerate, Sagar Adani and another key executive, Vneet Jaain, have been charged …

Adani case: Lawyer Mukul Rohatgi picks holes in US bribery charges
1 month, 2 weeks ago

Adani case: Lawyer Mukul Rohatgi picks holes in US bribery charges

India Today  

Picking holes in the US charges against the Adani Group, senior lawyer Mukul Rohatgi on Wednesday said Gautam Adani and his nephew have not been charged with violation of the US Foreign Corrupt Practices Act while another advocate, Mahesh Jethmalani, asserted that the indictment only mentioned a "conspiracy to bribe". Briefing the media, Rohatgi said while the charges mention that …

No bribery charges against Gautam Adani, nephew in US indictment: Adani Green
1 month, 2 weeks ago

No bribery charges against Gautam Adani, nephew in US indictment: Adani Green

India Today  

Adani Green Energy Ltd has issued a statement clarifying that Gautam Adani, Sagar Adani, and senior executive Vneet Jaain have not been charged with violations of the US Foreign Corrupt Practices Act. These directors have been charged on three counts in the criminal indictment namely alleged securities fraud conspiracy, alleged wire fraud conspiracy, and alleged securities fraud," said the statement …

Former Attorney General Rohatgi says no bribery charges against Gautam Adani, nephew in US indictment
1 month, 2 weeks ago

Former Attorney General Rohatgi says no bribery charges against Gautam Adani, nephew in US indictment

New Indian Express  

NEW DELHI: Former Attorney General of India and Senior Counsel Mukul Rohatgi on Wednesday said that industrialist Gautam Adani, along with his nephew Sagar Adani, have not been named in key bribery or obstruction of justice charges in the indictment filed by United States prosecutors in a bribery case. Earlier today, the Adani Group Energy Limited refuted bribery allegations made …

Adani Group shares rally after clarification on US bribery charges. Is the worst over?
Trending News
1 month, 2 weeks ago

Adani Group shares rally after clarification on US bribery charges. Is the worst over?

India Today  

Adani Group shares surged on Wednesday, rallying by up to 20% after a clarification from Adani Green Energy addressed concerns related to US bribery charges. Other group companies, including Adani Green Energy, Adani Energy Solutions, Adani Ports and Special Economic Zone, and Adani Wilmar, saw gains ranging from 8% to 10%. The rally followed a statement from Adani Green Energy …

CFL wants ACB to probe Jagan in Adani bribe scam
1 month, 2 weeks ago

CFL wants ACB to probe Jagan in Adani bribe scam

Deccan Chronicle  

VIJAYAWADA: Centre for Liberty founder Nallamothu Chakravarthy has filed a complaint with the Anti-Corruption Bureau seeking a probe against former chief minister Y.S. In addition to the ex-CM, CFL also wanted an inquiry into Gautam Adani – chairman of Adani Group, N. Srikanth – former energy secretary, Balineni Srinivasa Reddy – former energy minister and other persons that ACB may …

‘Adani power deal under scrutiny’: Andhra official
1 month, 2 weeks ago

‘Adani power deal under scrutiny’: Andhra official

Hindustan Times  

The Andhra Pradesh government is examining whether the state can cancel a contract with the Solar Energy Corp of India following allegations by prosecutors in New York that the Adani Group paid around $265 million in bribes to officials in several Indian states to secure renewable energy contracts. The allegation is that SECI entered into an agreement with the Adani …

Adani ‘bribery’ case: Andhra Pradesh likely to suspend Adani Group’s power supply deal
Top News
1 month, 2 weeks ago

Adani ‘bribery’ case: Andhra Pradesh likely to suspend Adani Group’s power supply deal

Live Mint  

NEW DELHI, Nov 26 - India's Andhra Pradesh state is likely to suspend a power purchase deal linked to Adani Group due to the U.S. indictment of the group's billionaire founder Gautam Adani over an alleged bribery scheme, two state government sources said. The southern state will ask the federal government and the Solar Energy Corporation of India, which awards …

Adani ‘bribery’ case: Is Andhra Pradesh planning to cancel power deal with Adani Group?
Top News
1 month, 2 weeks ago

Adani ‘bribery’ case: Is Andhra Pradesh planning to cancel power deal with Adani Group?

Live Mint  

The Andhra Pradesh state government is reviewing official files and will explore if there is a possibility of cancelling a power supply contract linked to the Adani Group, reported the news agency Reuters, quoting Finance Minister of the State, Payyavula Keshav, on November 26. The indictment release from the US authorities also said that after payment of the alleged bribes …

Plea In Madras High Court Seeks SIT/ED/CBI Probe Into Indictment Of Gautam Adani In US On Bribery Charges
1 month, 2 weeks ago

Plea In Madras High Court Seeks SIT/ED/CBI Probe Into Indictment Of Gautam Adani In US On Bribery Charges

Live Law  

A plea has been filed in the Madras High Court seeking directions to the Home Ministry to either set up a Special Investigation Team or to direct the Enforcement Directorate or Central Bureau of Investigation or any other appropriate investigation agency to investigate into the corruption charges levelled against Indian businessman Gautam Adani and his indictment by United States Department …

Adani indictment row: U.S. State Department declines comment on disruptions in Indian Parliament
1 month, 2 weeks ago

Adani indictment row: U.S. State Department declines comment on disruptions in Indian Parliament

The Hindu  

The U.S. State Department refused to comment on the disruptions in the Indian Parliament over the indictment of billionaire Gautam Adani in a U.S. court on charges of bribery. The U.S. authorities have indicted Gautam Adani and seven others including his nephew Sagar Adani, for being part of an alleged $265 million bribery scheme. Last week, a five-count criminal indictment …

Adani bribery case: Andhra minister says checking if power deals can be scrapped
1 month, 2 weeks ago

Adani bribery case: Andhra minister says checking if power deals can be scrapped

India Today  

Andhra Pradesh is reviewing government files to explore the possibility of scrapping a power supply contract linked to the Adani Group, Reuters reported. The development comes in the wake of a New York court indicting Adani Group chairperson Gautam Adani and seven others for promising USD 265 million in bribes to states, including Andhra Pradesh, to obtain contracts. Finance Minister …

Adani Group deals at risk: How countries have reacted after bribery charges
1 month, 2 weeks ago

Adani Group deals at risk: How countries have reacted after bribery charges

India Today  

The Adani Group is under scrutiny after US authorities accused Gautam Adani and seven associates of paying $265 million in bribes to Indian government officials. President William Ruto said on Thursday that a procurement process that would have handed control of the country's main airport to the Adani Group was terminated, reported news agency Reuters. Adani Green Energy Limited, however, …

Adani standoff forces Houses to adjourn on Day 1 of session
1 month, 2 weeks ago

Adani standoff forces Houses to adjourn on Day 1 of session

Hindustan Times  

The Congress-led Opposition forced adjournments in both Houses of Parliament on the opening day of the winter session on Monday over bribery allegations against the Adani Group but a standoff on this issue might not last long as other INDIA bloc constituents are keen to focus on more pressing issues. A senior Congress leader said the party is unlikely to …

Gautam Adani ‘bribery’ case: GQG refuses to sell Adani shares; here’s why
Trending News
1 month, 2 weeks ago

Gautam Adani ‘bribery’ case: GQG refuses to sell Adani shares; here’s why

Live Mint  

GQG Partners, one of the biggest foreign institutional investors in Adani Group, decided not to sell its stake in the conglomerate. According to the disclosure, the American investment giant has a total exposure of $9.7 billion to the Adani Group of companies on a total asset base of $158.6 billion, marking up to 6.1 per cent of the company's total …

Adani bribery case: Accused executive’s new company landed a $1.2 billion investment pact from REC in September
1 month, 2 weeks ago

Adani bribery case: Accused executive’s new company landed a $1.2 billion investment pact from REC in September

Live Mint  

Bengaluru: The chief executive of a two-year-old zero-revenue green energy company that recently scored a ₹10,000 crore investment commitment from REC Ltd is among those indicted in the $250 million Adani bribery case. New Delhi-based Ocior Energy’s co-founder and CEO Ranjit Gupta was the chief executive of Azure Power Global Ltd, the company in the thick of the bribery charges …

Adani bribery row: Jagan Reddy's party leader says defector signed SECI papers
1 month, 2 weeks ago

Adani bribery row: Jagan Reddy's party leader says defector signed SECI papers

India Today  

YSRCP leader Chevireddy Bhaskar Reddy slammed former Andhra Pradesh power minister Balineni Srinivas Reddy for his baseless comments against Jagan Mohan Reddy. BALINENI BLAMES JAGAN REDDY Balineni, who quit the YSRCP on September 18 and later joined the Jana Sena Party, recently accused party president and former chief minister YS Jagan Mohan Reddy of wrongdoing. Chavireddy made similar arguments, saying: …

Bribery Scheme: More trouble for Adani Group as partners, investors review ties
1 month, 2 weeks ago

Bribery Scheme: More trouble for Adani Group as partners, investors review ties

New Indian Express  

The Adani Group is facing escalating challenges after being criminally indicted by a US federal court last week on corruption charges. In further bad news for the Ahmedabad-based conglomerate, its largest foreign investor, France’s Total Energies, announced on Monday that it will halt any new financial contributions to Adani Group companies. In a statement issued on Monday, Total Energies said: …

Fresh plea in Supreme Court seeks probe into U.S. indictment of Gautam Adani
1 month, 2 weeks ago

Fresh plea in Supreme Court seeks probe into U.S. indictment of Gautam Adani

The Hindu  

A fresh plea has been filed in the Supreme Court seeking a probe into the indictment of billionaire industrialist Gautam Adani who has been indicted in the U.S. for alleged bribery and fraud, saying the move "unveiled malpractices carried out by the conglomerate". The U.S. Department of Justice has accused Mr. Adani of being part of an elaborate scheme to …

Gautam Adani, nephew Sagar Adani summoned by US SEC in bribery case: ‘If you fail to respond…’
1 month, 2 weeks ago

Gautam Adani, nephew Sagar Adani summoned by US SEC in bribery case: ‘If you fail to respond…’

Hindustan Times  

Gautam Adani indicted: Gautam Adani of the Adani group and his nephew Sagar Adani have been summoned to explain their stand on the US Securities and Exchange Commission allegation of paying USD 265 million in bribes to secure lucrative solar power contracts, news agency PTI reported. Adani group faces bribery allegations, denies charges Gautam Adani, 62, and seven others, including …

Adani firm downplays Kenya scrapping $736 million power deal: No material impact
1 month, 2 weeks ago

Adani firm downplays Kenya scrapping $736 million power deal: No material impact

India Today  

Adani Energy Solutions said on Saturday that Kenya's cancellation of a $736 million transmission line project did not require it to make any regulatory disclosure under Indian stock exchange rules as it was within its ordinary course of business. "Further, the Company hereby submits that there is no material impact of the Media Report on the operations of the Company," …

U.S. SEC summons Gautam Adani, nephew Sagar in bribery case
1 month, 2 weeks ago

U.S. SEC summons Gautam Adani, nephew Sagar in bribery case

The Hindu  

Adani group founder and chairman Gautam Adani and his nephew Sagar have been summoned to explain their stand on the U.S. Securities and Exchange Commission allegation of paying $265 million in bribes to secure lucrative solar power contracts. Summons have been sent to Adani’s Shantivan Farm residence in Ahmedabad and his nephew Sagar’s Bodakdev residence in the same city for …

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