Page 7 - Adani Green Energy

Gautam Adani, nephew not charged under US FCPA, says Adani Green Energy

Billionaire Gautam Adani and his nephew Sagar Adani have not been charged with any violations of the US Foreign Corrupt Practices Act (FCPA) 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 by the US Department of Justice with being part of an alleged scheme to pay USD 265 million in bribes to Indian officials to win contracts for supply of solar electricity that would yield USD 2 billion profit over a 20-year period. In a stock exchange filing, Adani Green Energy Ltd, which is at the centre of the bribery allegations, said reports claiming that the three have been charged with FCPA violations "are incorrect". They have been charged with offences that are punishable with a monetary fine or penalty. "Gautam Adani, Sagar Adani and Vneet Jaain have not been charged with any violation of the F

Adani Green says no fresh financial commitment with TotalEnergies

On Monday, French energy major TotalEnergies said until such time as the bribery accusations against the Adani group individuals have been clarified, it will not make any new financial contribution

Andhra to review power deal linked to Adani Group amid US SEC charges

The Andhra Pradesh government was set to procure 7,000 MW of solar power from Adani Group through Seci aiming to supply cost-effective power to the agricultural sector

Adani shares crack up to 8% on Fitch downgrade; Green, Energy at 52-wk lows

In the past one week, the market price of Adani Green Energy and Adani Energy Solutions tanked 37 per cent and 32 per cent, respectively.

'No new financial commitments under discussion with TotalEnergies': Adani

French energy conglomerate TotalEnergies would pause further investments in Adani Group companies due to corruption allegations made by the US SEC

Comfortable liquidity, enough debt cover for 28 months: Adani group

Group reports Rs 53K cr cash buffer, robust operational cash flow amid bribery charges

US SEC Adani allegations unlikely to significantly impact business: GQG

GQG Partners' exposure to Adani stands at $8.1 billion, constituting 5.2% of its total assets of $156.7 billion. GQG Partners holds stakes ranging from 1.5% to 2% in six Adani Group companies

Adani Group shares surge up to 7%; extend recovery post Maha poll verdict

Last week, shares of Adani Group tanked up to 28% after Gautam Adani, along with other executives, were charged by US prosecutors with bribery, fraud charges.

Adani Group assures 'enough cash flows' amid US allegations fallout

Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report

US SEC summons Gautam Adani, nephew Sagar in alleged bribery case

Adani group founder and chairman Gautam Adani and his nephew Sagar have been summoned to explain their stand on the US Securities and Exchange Commission (SEC) allegation of paying USD 265 million (Rs 2,200 crore) 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 a reply to SEC within 21 days. "Within 21 days after service of this summons on you (not counting the day you received it)...you must serve on the plaintiff (SEC) an answer to the attached complaint or a motion under Rule 12 of the Federal Rules of Civil Procedure," said a November 21 notice sent through the New York Eastern District Court. "If you fail to respond, judgment by default will be entered against you for the relief demanded in the complaint. You also must file your answer or motion with the court," it added. Gautam Adani, 62, and seven other defendants, including his nephew .

Adani CFO defends against US charges, says linked to one business contract

Group CFO Jugeshinder Singh sought to defend allegations saying none of Adani's 11 public companies 'are subject to indictment' or 'are accused of any wrongdoing in the said legal filing'

Adani saga: SECI, NTPC top power contractors for Adani Green Energy

AGEL's plans to increase its capacity more than five-fold to 50 GW by 2030

Settlement may shield Adani Group from further public scrutiny: Experts

Lawyers added that while the US laws allow for settlements in bribery cases, governed by the Foreign Corrupt Practices Act, India does not have any law for settlement of bribery charges

Sebi probes Adani Group's alleged disclosure failures post US SEC charge

Inquiry centres around allegations that Adani Green Energy Ltd did not adequately disclose the US Justice Department's investigation into bribery claims

Gautam Adani US indictment: Adani Group stocks extend fall by another 11%

In two days, the stock price of Adani Enterprises and Green Energy have tanked by 28%, Adani Energy slipped 27%, while Ports, Power, Total Gas, Wilmar and Ambuja Cements are down between 14% and 18%

'Bribe notes' with rates: Filings detail Sagar Adani's role in scandal

Sagar Adani, nephew of billionaire Gautam Adani, noted amount of the bribe he offered, which government official had been offered money and how much solar power official's region would buy in return

Gautam Adani family net worth falls 20% to around Rs 7.8 trillion

At its peak, it was worth $136.3 bn at the end of July this year

Two Adanis, a foreigner, and 5 others charged with corruption: Who they are

Gautam Adani US indictment: Eight people, including Gautam Adani, his nephew Sagar Adani, and an individual named Cyril Cabanes, have been named by the US SEC in the alleged corruption case

Adani Enterprises tests Jan 2023 Hindenburg fall support; can slide 34%

Adani Enterprises stock may re-test support around its 200-WMA, like it did post the Hindenburg allegations in Jan-Feb 2023, technical chart shows.

Gautam Adani charged by US in $265 million bribery case: Top things we know

Gautam Adani, his nephew Sagar, and Cyril Cabanes, a former board member of Azure Power, charged by the US SEC in a bribery and fraud scheme