Gautam Adani (File photo) NEW DELHI: Republican Congressman Lance Gooden wrote a strong-worded letter to US Attorney General Merrick B Garland against the indictment of industrialist Gautam Adani, calling it a “selective action” that risks damaging Washington’s “critical alliance” with India.Gooden, who is also a member of the House Judiciary Committee, demanded answers on the…
Legal experts suggest that Gautam Adani has substantial grounds to contest charges. Adani Group stocks today: Adani Group stocks rose up to 7% on Monday, with investors showing confidence that Gautam Adani and others facing US charges of bribery, securities fraud, and wire fraud have substantial grounds to contest the indictment.Adani Enterprises shares increased 4%…
NEW YORK: The US SEC will have to serve the summons on the Adani group founder and chairman Gautam Adani and his nephew Sagar in the alleged $265 million (Rs 2,200 crore) payoffs through proper diplomatic channels as it has no jurisdiction to summon a foreign national directly, according to sources.The US Securities and Exchange…
MUMBAI: The US bribery charges against Adani Group relate to a single contract within Adani Green Energy, constituting approximately 10% of its operations, said Adani Group CFO Jugeshinder Robbie Singh on Saturday. Singh emphasised that no other companies within the broader Adani conglomerate are facing allegations of improper conduct. He, however, acknowledged that while the…
NEW DELHI: Days after filing a lawsuit in a New York court, the Securities & Exchange Commission has issued summons to Adani Group founder and chairman Gautam Adani and his nephew Sagar Adani, executive director of Adani Green, in a bribery case.“Within 21 days after service of this summons on you…you must serve on the…
The United States Department of Justice (DoJ) has filed charges against industrialist Gautam Adani. Days after the US indictment of Gautam Adani and other individuals, Adani Group CFO Jugeshinder Singh has said that the bribery indictment pertains to a single contract at Adani Green Energy. According to a Reuters report, the Adani Group CFO said…
BHUBANESWAR: In a recent court filing, the US Securities and Exchange Commission alleged that Adani Green’s internal documents show huge kickbacks were made or committed to Odisha govt officials to influence decisions regarding a power supply agreement.The SEC complaint read, “According to Adani Green’s records, a payment equal to hundreds of thousands of dollars was…
NEW DELHI: The Securities & Exchange Commission (SEC) complaint in a New York court has said that Solar Energy Corporation of India had hoped to sign the power purchase agreement within 90 days of issuing letters of award to Adani Green and Azure Power in June 2020, but the high tariffs quoted by the companies…
MUMBAI: GQG Partners, a major foreign investor in the Adani group companies, has initiated defensive measures to safeguard its share price following the fallout from a US investigation into the Ahmedabad-based conglomerate. The Sydney-listed fund initiated a $65 million share buyback programme, citing the potential presented by the significant drop in its stock value. Assembly…
Indian billionaire Gautam Adani, one of the world’s richest men, has been indicted for fraud and bribery by U.S. prosecutors in a $265 million corruption scandal. An arrest warrant has been issued for Adani and his nephew, Sagar Adani, linked to securing lucrative power-supply deals in India. As the allegations unfold, Kenya’s President William Ruto…