Adani Group is 'deeply overleveraged', warns CreditSights
2 years, 4 months ago

Adani Group is 'deeply overleveraged', warns CreditSights

The Hindu  

Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. "Over the past few years, the Adani Group has pursued an aggressive expansion plan that has pressurised its credit metrics and cash flows," CreditSights said. "The Adani Group is increasingly venturing into new and/or unrelated businesses, which are highly capital intensive and raises concerns regarding spreading execution oversight too thin," it added. "While the entrepreneurial vision of Gautam Adani is impressive, it also comes with high key-man risk, as the senior management capability in the group companies in his absence may prove to be inadequate," CreditSights said.

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History of this topic

Adani Defence acquires 85.8% stake in Air Works at Rs 400 crore enterprise value
2 days, 6 hours ago

Adani Defence acquires 85.8% stake in Air Works at Rs 400 crore enterprise value

New Indian Express  

Adani Defence Systems & Technologies Ltd is acquiring 85.8% shareholding in Air Works, India’s largest private sector MRO company with the largest pan-India footprint, said the Adani Group in a statement on Monday. ADSTL will acquire the Air Works stake at an Enterprise Value of Rs 400 crore. Air Works offers an end-to-end bouquet of aviation services spanning line maintenance, …

Number Theory: Key takeaways from 2 hard years for the Adani Group
1 week, 6 days ago

Number Theory: Key takeaways from 2 hard years for the Adani Group

Hindustan Times  

On November 20, the United States Department of Justice issued an indictment against Gautam Adani and two executives of Adani Green Energy for allegations of bribery in India, which put them in breach of US capital market regulations. In January last year, the group was targeted by a US-based short-seller Hindenburg, which accused it of various irregularities – Indian stock …

Shares of 6 Adani Group companies, out of 11 listed, decline in mid-session deals
1 week, 6 days ago

Shares of 6 Adani Group companies, out of 11 listed, decline in mid-session deals

Hindustan Times  

Shares of six Adani Group firms, out of 11 listed companies, declined in the mid-session deals on Wednesday, with Adani Green Energy falling more than 2 per cent. The scrip of Adani Green Energy slipped 2.46 per cent to ₹1,147.30 apiece, Adani Ports and Special Economic Zone was down by 1.13 per cent, Adani Power, Adani Energy Solutions and Adani …

US market regulator seeks joint hearing of cases against Adani, ex-Azure Director
2 weeks, 2 days 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 …

Adani Group announces to invest Rs 7.5 lakh crore in Rajasthan across sectors
2 weeks, 2 days ago

Adani Group announces to invest Rs 7.5 lakh crore in Rajasthan across sectors

India TV News  

Rising Rajasthan Global Summit: The Adani Group is planning to invest Rs 7.5 lakh crore across various sectors in Rajasthan, said Karan Adani, Managing Director of Adani Ports and SEZ Ltd on Monday at the Rising Rajasthan Global Summit held on Monday at the Jaipur Exhibition and Convention Centre in Sitapura. While speaking at the Rising Rajasthan Summit, Karan Adani …

Adani Group seeks SEBI settlement for shareholding violation charges to avoid regulatory action: Report
3 weeks ago

Adani Group seeks SEBI settlement for shareholding violation charges to avoid regulatory action: Report

Live Mint  

Billionaire Gautam Adani-led group has reportedly approached the capital markets regulator Securities and Exchange Board of India, seeking to settle a case in which Adani Group was accused of violating public shareholding regulations. According to the report, the ports-to-power conglomerate's minimum public shareholding requirement violations date back to 2020, and the regulator sought to recover about ₹2,500 crore from the …

Adani Group Shares Rally: Adani Ports Leads Gains As Sensex, Nifty Surge
3 weeks ago

Adani Group Shares Rally: Adani Ports Leads Gains As Sensex, Nifty Surge

ABP News  

Shares of seven Adani Group companies ended higher on Tuesday, with Adani Ports and Special Economic Zone leading the charge with a 6.02 per cent gain, emerging as the top performer among Sensex and Nifty firms. Other Adani Group stocks also witnessed upward movement on the BSE, with Ambuja Cements rising 5.15 per cent, ACC climbing 2.56 per cent, Adani …

Adani Green Energy Shares Surge 9% Amid Allegations; Gautam Adani Asserts Resilience
3 weeks, 1 day 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 …

Gautam Adani breaks silence on bribery charges in US: ‘Every attack makes us stronger and…’
Trending News
3 weeks, 3 days 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 …

The Adani-Modi Nexus Faces Its Greatest Test
3 weeks, 3 days ago

The Adani-Modi Nexus Faces Its Greatest Test

The Hindu  

Published : Nov 30, 2024 18:52 IST - 15 MINS READ To contend that the indictment of Gautam Adani, his nephew, and their associates, in the United States has dealt a blow to the ambitions of one of India’s, and the world’s, richest men, would be an understatement. The 30,000-word report of the New York-based short-selling firm Hindenburg Research published …

No credit risks so far for Adanis as group has good cash balance: Crisil
Trending News
3 weeks, 4 days ago

No credit risks so far for Adanis as group has good cash balance: Crisil

New Indian Express  

MUMBAI: Ratings agency Crisil report released on Friday ruled out any credit risks for Adani Group in the medium term. The group has flexibility to cut certain discretionary capex depending on developments in financial markets and future capital availability, the agency said, adding it has a healthy operating income and cash balance that reduces dependence on external debt to sustain …

'Every attack makes us stronger': Gautam Adani amid row over US indictment
Trending News
3 weeks, 4 days ago

'Every attack makes us stronger': Gautam Adani amid row over US indictment

India TV News  

In his first public address following recent allegations and a U.S. indictment, Gautam Adani, Chairman of the Adani Group, reiterated his company's resilience, declaring that "every attack makes us stronger." Speaking at the 51st Gems and Jewellery Awards on Saturday, Adani addressed the legal challenges his conglomerate is facing, following charges of securities fraud and violations of anti-bribery regulations related …

Adani Green, Adani Energy Solutions jump after F&O inclusion
3 weeks, 4 days 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 …

Japanese Banks sticking with Adani as Jefferies, Barclays review ties
3 weeks, 5 days ago

Japanese Banks sticking with Adani as Jefferies, Barclays review ties

Live Mint  

-- Japan’s biggest banks plan to maintain ties to billionaire Gautam Adani despite US bribery charges, even as other global firms including Barclays Plc are reassessing their exposure to the Indian conglomerate. Mizuho Financial Group Inc. expects the latest saga surrounding Adani won’t have a long-lasting impact and intends to continue supporting the group, according to people familiar with the …

No request received from US on Adani case: MEA
Trending News
3 weeks, 5 days 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 …

Adani Green, Adani Energy Solutions: Why these Adani Group stocks are surging today
Trending News
3 weeks, 5 days ago

Adani Green, Adani Energy Solutions: Why these Adani Group stocks are surging today

India Today  

Adani Group stocks rallied sharply on Friday, climbing up to 15% as investors responded positively to clarifications on the US bribery case and assurances of financial stability. Most other Adani Group stocks also registered gains in early trade. The rally comes after Japan’s largest lenders, including Mizuho Financial Group, Sumitomo Mitsui Financial Group, and Mitsubishi UFJ Financial Group, reportedly reaffirmed …

CRISIL says no negative actions so far by lenders, investors on Adani following US indictment
3 weeks, 5 days ago

CRISIL says no negative actions so far by lenders, investors on Adani following US indictment

New Indian Express  

NEW DELHI: Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce …

Adani fraud allegations rock Indian Parliament as opposition demands probe into billionaire’s firms
3 weeks, 5 days ago

Adani fraud allegations rock Indian Parliament as opposition demands probe into billionaire’s firms

Associated Press  

NEW DELHI — India’s Parliament was disrupted for a third day Thursday by opposition parties protesting the government’s silence over allegations against billionaire Gautam Adani, who was recently indicted in the U.S. for alleged fraud and a scheme to pay bribes. In the absence of a statement by the Indian government, Amit Malviya, the governing Bharatiya Janata Party’s IT head, …

Adani allegations shine spotlight on India’s clean energy conundrum
3 weeks, 6 days 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 …

Abu Dhabi's IHC says its outlook on Adani Group investments is unchanged
3 weeks, 6 days ago

Abu Dhabi's IHC says its outlook on Adani Group investments is unchanged

The Hindu  

International Holding Co's outlook on investments in India's Adani Group remains unchanged, the Abu Dhabi conglomerate said following the U.S. indictment of billionaire Gautam Adani. "Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC said in a statement on Wednesday. Last week, U.S. authorities accused Mr. Adani, his nephew …

Adani group stocks extend winning streak, rally up to 12% today
Top News
3 weeks, 6 days ago

Adani group stocks extend winning streak, rally up to 12% today

India Today  

Adani group shares continued their positive momentum and extended their rally on Thursday with its stocks gaining up to 10% in early trade. The shares of the conglomerate have seen a recovery after the Adani group issued a clarification on charges of bribery by US authorities. The rally follows a clarification by Adani Green Energy Ltd on Wednesday that dismissed …

Adani Shares Soar As Bribery Allegations Clear; Market Cap Jumps Rs 1.2 Lakh Crore
Top News
3 weeks, 6 days ago

Adani Shares Soar As Bribery Allegations Clear; Market Cap Jumps Rs 1.2 Lakh Crore

ABP News  

Adani Group witnessed a significant turnaround in investor sentiment on Wednesday, with its market capitalisation swelling by Rs 1.2 lakh crore in a single trading session. This remarkable 10 per cent surge came as legal clarifications eased concerns over alleged bribery charges, which had previously dampened confidence. Leading the rally were Adani Power and Adani Total Gas, both of which …

Adani Group’s 2 stocks placed under ASM stage-1 category: Here’s what it means for shareholders
3 weeks, 6 days ago

Adani Group’s 2 stocks placed under ASM stage-1 category: Here’s what it means for shareholders

Live Mint  

Adani Group stocks - Adani Green Energy and Adani Energy Solutions, have been put under the first stage of the short-term additional surveillance measures on the Bombay Stock Exchange and National Stock Exchange after the recent US indictment of Chairman Gautam Adani and his nephew Sagar Adani on alleged bribery and fraud charges. The two Adani Group stocks have been …

Adani Group Stocks Rebound; Shares Surge Amid Bribery Allegations
Top News
3 weeks, 6 days ago

Adani Group Stocks Rebound; Shares Surge Amid Bribery Allegations

ABP News  

Shares of Adani Group companies saw a significant rally during morning trade on Wednesday, recovering from the losses incurred the previous day. Adani Energy Solutions led the surge, soaring 7.71 per cent, followed by gains in other group companies, signaling investor confidence despite ongoing allegations against the conglomerate. Adani Power climbed 5.96 per cent, Adani Total Gas rose 4.70 per …

Adani group stocks surge up to 16% post clarification by Adani Green; Adani Total Gas top gainer
3 weeks, 6 days ago

Adani group stocks surge up to 16% post clarification by Adani Green; Adani Total Gas top gainer

Live Mint  

Stock Market Today: Adani group stocks rebounded on Wednesday, gaining up to 16% post clarification issued by Adani Green Energy regarding bribery charges against Gautam Adani and others. Adani Total Gas share price surged 16% and was the top gainer, followed by Adani Power and Adani Green, whose share price skyrocketed up to 8%. Adani Group stocks rise up to …

Gautam Adani not charged with FCPA, only securities violations involving penalties: Adani Green
4 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 …

Adani Group says it lost nearly $55 billion since US indictment: Report
4 weeks ago

Adani Group says it lost nearly $55 billion since US indictment: Report

Hindustan Times  

India's Adani Group conglomerate said Wednesday it had suffered a staggering loss of nearly $55 billion since US corruption charges against top officials, accusations the company denies. The November 20 bombshell indictment in New York accused billionaire industrialist founder Gautam Adani and multiple subordinates of deliberately misleading international investors as part of the bribery scheme. "Since the intimation of the …

Sensex, Nifty end higher as Adani stocks rally up to 20%
Trending News
4 weeks ago

Sensex, Nifty end higher as Adani stocks rally up to 20%

India Today  

Benchmark stock market indices closed higher on Wednesday as they made a brief rally driven by a surge in Adani group shares after the conglomerate issued a clarification on the bribery charges by US authorities. "This recovery followed a clarification from Adani Green Energy Ltd regarding recent allegations of bribery and corruption against key executives, including Gautam Adani and his …

Adani Group stocks gain up to 17% after clarification on US bribery charge
4 weeks ago

Adani Group stocks gain up to 17% after clarification on US bribery charge

India Today  

Shares of Adani Group companies, including Adani Green Energy Ltd, Adani Power Ltd, Adani Energy Solutions Ltd, and Adani Enterprises Ltd, saw gains in Wednesday's trade. ADANI GROUP STOCKS GAIN SHARPLY Adani Green Energy shares were trading at Rs 988.40, up 10% as of 11 AM. Adani Total Gas Ltd rose 17.68% to Rs 681.95, Adani Wilmar Ltd increased 9.28% …

Former Attorney General Rohatgi says no bribery charges against Gautam Adani, nephew in US indictment
4 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
4 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 …

Adani ‘bribery’ case: Is Andhra Pradesh planning to cancel power deal with Adani Group?
Top News
4 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 …

Fitch Ratings says it may cut some Adani Group bonds to junk status
Trending News
4 weeks ago

Fitch Ratings says it may cut some Adani Group bonds to junk status

Live Mint  

Fitch Ratings may cut some Adani Group bond ratings to speculative territory after billionaire founder Gautam Adani was charged by the U.S. Justice Department in a bribery scheme. Fitch placed the BBB- rating on Adani Ports & Special Economic Zone’s U.S. dollar senior unsecured bonds on watch for a possible downgrade. The move comes after S&P Global Ratings last week …

No money given to Adani so far for Sri Lankan port project, says US development agency
4 weeks ago

No money given to Adani so far for Sri Lankan port project, says US development agency

Live Mint  

Mumbai: The US International Development Finance Corporation, which last year committed a half-a-billion-dollar loan to the Adani group for developing a port in Sri Lanka, has not yet disbursed any money to the Indian conglomerate. Incidentally, GQG Partners informed its investors last week that it had built up positions in Adani group companies as new data emerged, including the DFC’s …

Adani Group deals at risk: How countries have reacted after bribery charges
4 weeks, 1 day 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, …

‘No new investments until…’: France's TotalEnergies amid bribery charges against Adani Group
4 weeks, 1 day ago

‘No new investments until…’: France's TotalEnergies amid bribery charges against Adani Group

Hindustan Times  

French energy giant TotalEnergies SE on Monday said it will make no new financial contribution as part of its investments in Adani group companies till the Indian firm's founder is cleared of bribery charges. TotalEnergies holds a 19.75 per cent stake in Adani Green Energy Ltd - the renewable energy arm of the Indian group helmed by Gautam Adani. The …

T’gana rejects Adani’s ₹100-cr donation for skills university project
4 weeks, 1 day ago

T’gana rejects Adani’s ₹100-cr donation for skills university project

Hindustan Times  

Telangana chief minister A Revanth Reddy on Monday announced that the state government will not accept the ₹100 crore CSR donation pledged by the Adani Group for the Young India Skills University being set up in Ranga Reddy district on the outskirts of Hyderabad, in the wake of “present circumstances and arising controversies.” T’gana rejects Adani’s ₹ 100-cr donation for …

Adani standoff forces Houses to adjourn on Day 1 of session
4 weeks, 1 day 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 …

Enough cash, no concerns on debt servicing, says Adani Group
4 weeks, 1 day ago

Enough cash, no concerns on debt servicing, says Adani Group

Live Mint  

The Adani Group on Monday said that it has enough cash to service debt at all group firms in the next 12 months, in one of its first statements since the indictment of founder Gautam Adani by US federal prosecutors last week. Combined cash flows in the past 12 months were more than the annual debt repayments projected for each …

Gautam Adani ‘bribery’ case: GQG refuses to sell Adani shares; here’s why
Trending News
4 weeks, 1 day 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 …

TotalEnergies halts Adani investments; GQG bets on Indian govt backing amid US bribery charges
4 weeks, 1 day ago

TotalEnergies halts Adani investments; GQG bets on Indian govt backing amid US bribery charges

Live Mint  

Two of the largest investors in the Adani group have made contrasting investment decisions after US authorities indicted Gautam Adani and two other directors in a $250 million bribery case. French oil giant TotalEnergies, which has invested $3.85 billion in Adani group companies since 2019, said on Monday that it had decided to hold off on new investments until the …

Adani Group says companies have sufficient liquidity, assures investors about servicing debt obligations
Trending News
4 weeks, 1 day ago

Adani Group says companies have sufficient liquidity, assures investors about servicing debt obligations

Live Mint  

New Delhi, Nov 25 Billionaire Gautam Adani's conglomerate on Monday showcased its cash reserves and profits that are enough to service debt obligations as well as meet growth plans as it reassured investors about business as usual despite a US bribery indictment against the founder. The ports-to-energy conglomerate, whose chairman Adani and two other executives have been indicted in a …

Adani bonds slide to year low as investors and lenders weigh bribery allegations
4 weeks, 1 day ago

Adani bonds slide to year low as investors and lenders weigh bribery allegations

Live Mint  

Adani dollar bond prices fell on Monday to almost one-year lows, as investors cut their exposure to the Indian conglomerate and some bankers considered pausing fresh lending in the wake of bribery and fraud accusations by U.S. authorities The group's billionaire chairman, Gautam Adani, and seven other people were last week charged with agreeing to pay around $265 million in …

Adani Portfolio Delivers Record H1 And TTM Performance
4 weeks, 1 day ago

Adani Portfolio Delivers Record H1 And TTM Performance

ABP News  

Adani Group, one of India’s leading infrastructure conglomerate, on Monday announced the release of Adani Portfolio's H1 FY25 and Trailing-Twelve-Month Results and Credit Compendium. The strong performance in the first half was led by Adani Enterprises; emerging infra businesses, including solar and wind manufacturing, part of a fully integrated green hydrogen chain, airports and roads — EBITDA from these incubating …

Adani touts financial muscle, says can grow without external debt
4 weeks, 1 day ago

Adani touts financial muscle, says can grow without external debt

The Hindu  

Billionaire Gautam Adani's conglomerate on Monday showcased its cash reserves and profits that are enough to service debt obligations as well as meet growth plans as it reassured investors about business as usual despite a U.S. bribery indictment against the founder. Gautam Adani indictment: In-depth coverage The ports-to-energy conglomerate, whose chairman Mr. Adani and two other executives have been indicted …

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

Bribery case: Fresh plea in Supreme Court seeks inquiry into US indictment of Gautam Adani
Trending News
1 month ago

Bribery case: Fresh plea in Supreme Court seeks inquiry into US indictment of Gautam Adani

Live Mint  

A fresh plea has been filed in the Supreme Court seeking an inquiry into the indictment of Adani group founder and chairman Gautam Adani, who has been charged in the US for alleged bribery and fraud. The US Department of Justice has accused Gautam Adani of being part of an elaborate scheme to pay $265 million bribe to Indian officials …

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

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

Adani Group CFO on US indictment: 'None of portfolio companies subject to any legal case'
1 month ago

Adani Group CFO on US indictment: 'None of portfolio companies subject to any legal case'

Hindustan Times  

Two days after Adani Group chairperson Gautam Adani was indicted on bribery charges in the US, the conglomerate's CFO, Jugeshinder Robbie Singh, said that none of Adani Group portfolio companies have been accused of any wrongdoing. “Adani Group has a portfolio of 11 public companies and none are subject to indictment,” Singh wrote. The Adani Family has 11 listed entities …

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