Page 13 - Adani

Global banks weigh halting fresh credit to Adani Group after US indictment

The most likely liability facing the banks is civil liability from investors introduced to Adani through the banks

Charges against Adani could lead to warrants, extradition bid: US attorney

With the US filing civil and criminal charges against billionaire Gautam Adani and seven others over a multi-million-dollar bribery scheme, a prominent attorney here has said that the case could escalate significantly, potentially leading to arrest warrants and even extradition attempts. Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than USD 2 billion in profit over 20 years. Adani Group, however, denied the charges saying the allegations by US prosecutors are "baseless" and the conglomerate is "compliant with all laws". US Attorney Breon Peace has the right to get arrest warrants issued against Adani and seven others indicted and serve them on the nations where they reside, Indian-American attorney Ravi Batra told PTI on Thursday. He further sa

Unreliable, chronic liar: BJP's CR Kesavan lashes out at Rahul Gandhi

Taking a dig at Rahul Gandhi, BJP's Kesavan said that Rahul Gandhi was exposed in the HAL matter that he raised during the previous Lok Sabha elections as the company's revenue has been increased

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%

Here's how Gautam Adani's alleged bribery scheme took off and unraveled

The alleged hundreds of millions of dollars in bribes promised to local Indian officials caught the attention of US Justice Department and Securities and Exchange Commission

Here's what's next for Gautam Adani after US bribery and fraud charges

Adani is charged with foreign bribery, securities fraud, securities fraud conspiracy and wire fraud conspiracy

Adani Energy Solutions to acquire 100% stake in Pune- III Transmission

Adani Energy Solutions Ltd (AESL) on Wednesday said it has signed a pact with PFC Consulting Ltd for acquisition of a project special purpose vehicle - Pune- III Transmission Ltd. The Pune- III Transmission Limited (PTL) projects include the establishment of new 2x1500 MVA, 765/400 kV and 3x500 MVA, 400/220 kV Pune-III substations and setting up of 816 ckm transmission line, according to a regulatory filing. AESL has "executed a Share Purchase Agreement (SPA) with PFC Consulting Limited for acquiring 100 per cent equity shares of Pune- III Transmission Limited," the filing said. Under this pact, PTL will aim to implement evacuation of 7 GW of renewable energy from Khavda RE Park (Gujarat), under the Phase IV Part D package. The acquisition is proposed to further AESL's strategy of enhancing value for its shareholders through organic and inorganic opportunities. On acquisition cost, AESL said the equity shares will be acquired at a face value of Rs 10 each.

Adani plans $2 bn convention centre in Mumbai to rival Ambani's Jio Centre

The Mumbai Metropolitan Region Development Authority has reportedly approved Adani's international convention centre design, set to be Mumbai's largest

Adani Infra to pick 30% stake in PSP Projects, make an open offer

Post the transaction and open offer, Adani Infra to acquire joint control over PSP Projects along with the existing promoter group

Adani Infra to acquire 30% stake in PSP Projects for Rs 685 crore

Adani Infra, owned by a unit of Indian billionaire Gautam Adani's flagship Adani Enterprises, will purchase the shares from Prahladbhai S Patel, who leads PSP Projects and is its top shareholder

Rs 1 trillion airport capex plan for 5 years: AAHL director Jeet Adani

Jeet Adani outlined his vision for the airports business that's expected to attract investments of around Rs 1 trillion over the next few years

Dharavi redevelopment project caught in Maharashtra's poll crossfire

Oppn parties threaten to scrap India's largest real estate redevelopment project

Maharashtra election: Current govt handed over Dharavi to Adani, says Rahul

Gandhi further criticised Prime Minister Narendra Modi regarding the situation in Manipur

Adani Power cuts power supply to Bangladesh by 50% over outstanding bills

India's Adani Power Jharkhand Limited (APJL), a wholly-owned subsidiary of Adani Power, has stopped half of its power supply to Bangladesh because of outstanding bills of USD 846 million, according to a local media report on Friday. Data from Power Grid Bangladesh PLC showed the Adani plant reduced supply on Thursday night, The Daily Star newspaper said. Bangladesh reported a shortfall of more than 1,600 megawatts (MW) on the intervening night of Thursday and Friday as the 1,496 MW plant is now producing 700 MW from a single unit, the newspaper reported. Earlier, the Adani company wrote to the power secretary asking the Bangladesh Power Development Board (PDB) to clear its outstanding dues by October 30. The letter, dated October 27, said that if the bills are not paid, the company shall be constrained to take remedial action under the Power Purchase Agreement (PPA) by suspending the power supply on October 31. The company said that the PDB has neither provided a letter of credit

Monopolisation linked to India's shaky economic growth, unemployment: Cong

The Congress on Friday claimed growing monopolisation by five big conglomerates, including the Adani Group, was linked to India's shaky economic growth, unemployment crisis and high inflation, and asserted that companies must expand but the government had a responsibility to ensure oligopolies or monopolies did not emerge. The opposition party's remarks came days after the Adani Group said it had agreed to acquire CK Birla Group firm Orient Cement Limited in a deal valued at Rs 8,100 crore. Congress general secretary in-charge communications Jairam Ramesh said on X, "Aap chronology samajhiye: September 2022: Modani acquires Ambuja Cements and ACC to become the country's second largest cement player." "August 2023: Adani acquires Sanghi Industries, India's largest single-location cement unit. June 2024: Adani acquires Penna Cements, giving it substantial market share even in the last remaining region of south India. October 2024: Adani acquires Orient Cement, gaining an additional 2

Q2 results today: Maruti, Cipla and Adani among 139 firms to post earnings

Q2FY25 company results: Adani Ports, Adani Enterprises, Canara Bank, Muthoot Capital, and SBI Cards and Payment Services will be releasing their second-quarter earnings report on October 29

CM Naidu meets Adani Group delegation to discuss investment opportunities

Discussions covered projects with the potential to drive comprehensive growth across the state in key sectors

Adani Group's Rs 3,000 crore bet on ITD rides India's infra-capex wave

Group entity will acquire 46.64% in EPC firm, triggering an open offer

Domestic M&A average deal value nearly halves at $29 million in 2024

Adani deal is 15x the average deal value for the year

Adani's Ambuja to acquire 46.8% stake in Orient Cement for Rs 8,100 cr

Adani pips Ultratech, makes open offer for CK Birla firm at Rs 395.40 a share