High costs: US charges to cause reputational damage for Adani and India

For a group that works in sectors where the ability to raise money and minimise political risk is essential, such news can hardly be easy to shrug off

The Adani group is in trouble again. This time, however, accusations against it are being levelled by a source more reliable than the activist short-sellers at Hindenburg Research, who had caused tremors in the market with a report last year on the group’s finances. The United States (US) federal prosecutor for the Eastern District of New York, one of those that specialise in examining federal white-collar crimes, has charged group Chairman Gautam Adani and some other executives, including Mr Adani’s nephew, with bribing government officials in India to secure contracts. The investigation was conducted by the Federal Bureau of Investigation