Page 10 - Latest Updates on Gautam Adani SEC indictment

Gautam Adani's US indictment rattles stocks, Kenya cancels airport deal

News of the charges wiped billions of dollars on Thursday from the market value of companies within Adani Group

Adani cos tried to enter Delhi power sector but Kejriwal stopped them: AAP

The Adani group tried to enter Delhi's power sector but was stopped by then chief minister Arvind Kejriwal, AAP Rajya Sabha MP Sanjay Singh claimed Thursday and stressed the need for accountability after industrialist Gautam Adani was charged in the US for alleged bribery and fraud. The billionaire industrialist has been charged by US prosecutors for allegedly being part of a scheme to pay over USD 250 million (about Rs 2,100 crore) bribe to Indian officials in exchange of favourable terms for solar power contracts. This was concealed from the US banks and investors from whom the Adani group raised billions of dollars for the project, the prosecutors have alleged. The Adani group denied the charges, saying the allegations by US prosecutors are baseless and the conglomerate is compliant with all laws. It also said that all possible legal recourse will be sought. In a press conference, Singh claimed that Adani Green Energy secured power supply contracts in several states, including .

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

Vedanta Resources delays dollar bond issue over Adani-linked allegations

The firm had planned to raise funds via dollar denominated bonds maturing in three years and six months

Gautam Adani charged by SEC: Key FCPA corruption cases and their results

US SEC accused Gautam Adani and seven others of paying $265 million in bribes to Indian government officials to secure solar energy project contracts for Adani Green Energy

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.

SEC charges Adani in $265 mn bribery scandal: Here are the key allegations

The case alleged that Gautam Adani and others conspired to pay about $265 million in bribes to Indian govt officials to secure energy contracts for Adani Green. To understand the allegations, read:

DMart, Tata Consumer, Asian Paints, IGL from BSE200 index hit 52-week lows

Adani Energy and Adani Wilmar from the BSE200 index have hit their respective 52-week lows after Gautam Adani and others were charged by US prosecutors for allegedly bribing Indian officials

Cyril Cabanes faces US SEC charges: Foreign Corrupt Practices Act explained

Cyril Cabanese is charged alongside Gautam Adani and Sagar Adani, in connection to a bribery scheme that misled US investors in a September 2021 bond offering that raised $175 million

'Baseless': Adani Group denies US SEC $265 million bribery allegations

The Adani Group has stated that it will seek all possible legal recourse to fight the bribery allegations against Adani Green Energy's top management

What is the US SEC and its Indian counterpart Sebi in market regulation?

The US Securities and Exchange Commission ensures market transparency and investor protection. India's Securities and Exchange Board of India plays a similar role of regulating the financial markets

Timing of report raises questions: Amit Malviya on US charging Adani

Malviya came down hard on the Congress after Jairam Ramesh demanded a JPC investigation into the matter

US charges on Adani Group chief & others are credit negative: Moody's

Adani Group chairman Gautam Adani has been charged in the United States in an alleged bribery and fraud scheme amounting to $265 million

Adani group stocks' combined mcap erodes by Rs 2.45 trn amid allegations

Adani group stocks faced heavy drubbing during the morning trade on Thursday, with the combined market valuation of all the listed firms getting eroded by Rs 2.45 lakh crore, as billionaire Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay USD 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. The stock of the group's flagship firm Adani Enterprises plunged 22.99 per cent, Adani Ports dived 20 per cent, Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 19.53 per cent and Adani Total Gas tumbled 18.14 per cent on the BSE. Shares of Adani Power slumped 17.79 per cent, Ambuja Cements cracked 17.59 per cent, ACC fell 14.54 per cent, NDTV dropped 14.37 per cent and Adani Wilmar declined 10 per cent. Some of the group firms also hit their lowest trading permissible limit for the day. The combined market capitalisation (mcap) of all the ten listed group firms eroded by R

What does the SEC indictment of Adani mean, and is there an Indian equivalent?

Gautam and Sagar Adani are accused of misleading investors about Adani Green Energy Ltd's anti-corruption policies during a September 2021 bond offering, which raised $175 million from US investors

Adani Green calls off US-bond fund raising after bribery allegations

This is the second time the conglomerate had to call-off a fundraising due to governance related developments

Vindicates demand for JPC probe: Congress on charges against Adani in US

With billionaire Gautam Adani charged in the US with alleged bribery and fraud, the Congress on Thursday said it "vindicates" its demand for a Joint Parliamentary Committee investigation into the various "scams" involving his conglomerate. The opposition party also called for "a new and credible" SEBI head to be appointed to complete the securities law investigations into the "Adani Mega Scam". Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay USD 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. US prosecutors charged Adani, 62, his nephew Sagar and other defendants for paying over USD 250 million in bribes between 2020 and 2024 to Indian government officials to win solar energy contracts on terms that could potentially bring in more than USD 2 billion in profit. Congress general secretary in-charge communications Jairam Ramesh said the US Securities and Exchange Commission's actions also c

Adani Group shares plunge up to 20% post US SEC bribery, fraud charges

Gautam Adani, along with other executives, has been charged by US prosecutors for allegedly bribing ($250 million) Indian officials.

How SEC's Adani charges differ from Hindenburg's fraud allegations

The SEC charges Gautam Adani with bribery and fraud, while Hindenburg accused the Adani Group of stock manipulation and accounting fraud. Here's how the allegations differ

Adani Group sees $22 billion in value wiped off after US indictments

Adani group's 10 listed stocks had a total market capitalisation of about $147 billion at 0411 GMT, compared to $169.08 billion on Tuesday