Page 17 - Adani Group

Adani stocks crack up to 5% as US SEC seeks India's help in bribery case

Adani bribery case, Adani share price: US federal prosecutors have accused Gautam Adani of bribing Indian government officials to buy electricity from Adani Green Energy

Efforts to serve complaint on Gautam Adani, Sagar Adani ongoing: US SEC

The US Securities and Exchange Commission (SEC) has told a federal judge here that its efforts to serve its complaint on Gautam Adani and Sagar Adani in the alleged bribery scheme are ongoing, including through a request for assistance to the Indian authorities. The SEC submitted a status update Tuesday to Judge Nicholas Garaufis at the United States District Court, Eastern District of New York regarding its efforts to serve its complaint on Gautam Adani and Sagar Adani. The SEC said that both Gautam Adani and Sagar Adani are located in India, and the SEC's efforts to serve them there are ongoing, including through a request for assistance to the Indian authorities to effect service under the Hague Service Convention for Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters. The SEC said that its complaint dated November 20 last year alleges that Gautam Adani and Sagar Adani violated the antifraud provisions of the federal securities laws by knowingly

US SEC requests help from Indian authorities in Adani fraud probe

Last year, federal prosecutors in Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy

SL president Dissanayake says no regret over Adani exit from energy project

Sri Lanka President Anura Kumara Dissanayake here on Monday said his government does not have any regret over Adani Group quitting its green energy projects in the island. "We have got an offer to provide wind power at 4.65 US cents so why would we cry over losing an offer at 8.26 cents?" Dissanayake, who is also the finance minister, said without naming the Adani Green Energy during his 2025 Budget presentation. Adani last week announced that they were quitting the over USD 400 million investment for its green energy project in the northeastern region of the island. "There are those who are crying claiming an investor had left the country," Dissanayake said, referring to opposition criticism that the NPP government policies would scare away potential investors. Adani Group left the project after the Dissanayake government decided late in December to review the Adani wind power project and renegotiate the power purchase agreement. The project had also met legal snags with ...

Adani Group pledges Rs 2,000 crore to establish schools across India

Adani group on Monday announced Rs 2,000 crore donation for building at least 20 schools across the country as it continued to reveal details of the Rs 10,000 crore charity committed at the wedding of founder Gautam Adani's younger son. The conglomerate had previously announced Rs 6,000 crore for constructing hospitals and another Rs 2,000 crore for skill development. The Adani Foundation, the philanthropic arm of Gautam Adani-led group, "has collaborated with GEMS Education, a global leader in private K-12 education, to establish temples of education across the country. "With an initial donation of INR 2,000 cr from the Adani family, the partnership will prioritize making world-class education and learning infrastructure affordable to people from all strata of society," it said in a statement. Earlier this month, Adani had committed to spending Rs 10,000 crore on social causes when his younger son Jeet tied nuptial knots. Stating that the partnership with GEMS Education will also

Adani-backed firm among 3 finalists for India's small satellite rocket bid

That move has been the highest-profile piece of India's privatisation efforts, which the government hopes will help the country claim a greater share of the booming global satellite launch market

Adani Total's Dhamra LNG terminal expansion not imminent: CEO Lamba

Lamba said the 5 million tons per annum (mtpa) LNG terminal on India's east coast operated at an average utilisation rate of 25 per cent in 2024

Adani Group signs $207 million private loan for Australia coal port unit

The ability for Adani to secure new debt demonstrates that it is recovering from a fallout after the US indicted Gautam Adani over a bribery plot in November

FCPA suspension may delay legal action against Adani Group in US: Experts

US President Donald Trump on Monday signed an executive order directing the DOJ to halt all prosecutions of Americans accused of bribing foreign officials

Bombay HC allows Adani group to cut 209 mangroves for power line project

The Bombay High Court has permitted the Adani group to cut 209 mangroves for the construction of a high voltage transmission line proposed to increase electricity supply in the city and suburbs, noting it was a project of public importance. The electricity transmission line construction project is critical for Mumbai as the existing capacity of the transmission corridor is not sufficient to carry any further power into the city, a division bench of Chief Justice Alok Aradhe and Justice Bharati Dangre said in its order on February 6. The HC allowed a petition filed by the Adani Electricity Mumbai Infra Limited, seeking permission to cut 209 mangroves near Vasai creek for setting up a High Voltage Direct Current (HVDC) link between two of its transmission substations. The project involves an 80 kilometre stretch, of which 30 km would be overhead transmission lines and the remaining 50 km would be underground cable in the mangrove area. The HVDC lines would pass through Mumbai, Thane a

US Congressmen slam Biden admin for 'misguided crusade' against Adani Group

The six Congressmen questioned why the DOJ proceeded with the indictment despite the allegations being centred in India, involving Indian officials

Adani group stocks in focus; Enterprises, Power, Green Energy gain up to 4%

Gautam Adani, Chairman of the Adani Group, has announced the launch of Adani Health City integrated health campuses, to be implemented through the Group's not-for-profit healthcare arm

Adani plans to donate Rs 6,000 cr to set up health infra with Mayo Clinic

The AHCs will comprise 1,000-bed multi-specialty hospitals, medical colleges and research facilities, among others

Adani to spend Rs 6,000 cr on setting up health infra with Mayo Clinic

Adani Group will spend Rs 6,000 crore in setting up two 1,000-bed multi-specialty hospitals and medical colleges in Mumbai and Ahmedabad in partnership with Mayo Clinic. The expenditure is part of Rs 10,000 crore that Gautam Adani, chairman of Adani Group, had pledged when his younger son Jeet got married last week. Mayo Clinic, the world's largest integrated not-for-profit medical group practice, will provide technical expertise, Adani Group said in a statement. "Adani Group will fully meet the cost of building affordable, world-class medical care and medical education to people from all strata of society pan India," it said. "The family will donate upwards of Rs 6,000 crore to build the first two of these integrated health campuses in Ahmedabad and Mumbai." Gautam Adani has plans for more such integrated Adani Health Cities in cities and towns across India, the statement said without giving details. Each of these integrated campuses will comprise 1,000-bed multi-super-specialty

Adani Wilmar bets on urban revival, quick grocery delivery to boost growth

Top executives in sectors such as consumer goods and automobiles expect India's plans to cut personal income tax rates

Adani, Tata profit misses add to concern over stock market outlook

Citigroup Inc. and HSBC Holdings Plc are among banks that have cut profit forecasts as the latest earnings from some of India's top firms

Hindenburg's Nate Anderson stands by Adani report: 'No threat behind closure'

Founded in 2017, Hindenburg Research made money by placing bets against companies it investigated, profiting from their stock price declines after exposing fraud and corporate abuses

Adani Ports share price drops 8% after Q3FY25 results; reasons here

Adani Ports missed the Bloomberg estimates, which projected its net profit at Rs 2,589.4 crore, a jump of 17.3 per cent year-on-year, according to reports

Adani, JSW, investors eye Arshiya Ltd's assets amid insolvency process

Adani Ports, JSW Infrastructure, and key investors express interest in acquiring Arshiya Ltd, a logistics firm undergoing insolvency resolution with liabilities over Rs 6,647 crore

Adani Group gets CCI clearance to acquire majority stake in ITD Cementation

The Competition Commission of India on Tuesday approved Adani Group's arm Renew Exim DMCC's proposal to acquire a majority stake in ITD Cementation India for about Rs 5,757 crore. ITD Cementation India Ltd is an engineering and construction company undertaking heavy civil, infrastructure and engineering, procurement and construction (EPC) business and operating in India and overseas. "The proposed combination involves the acquisition by Renew Exim DMCC (acquirer) of approximately 46.64 per cent equivalent to 8,01,13,180 shares of the total issued and voting equity share capital of the ITD Cementation India Ltd (target)," the Competition Commission of India (CCI) said in a release. Renew Exim DMCC is incorporated in Dubai, United Arab Emirates, and belongs to the Adani group. It is a holding company engaged in the business of investment in commercial enterprises and management and does not have any operations in India. Pursuant to the Sebi's SAST (Substantial Acquisition of Shares a