Page 2 - Latest Updates on Gautam Adani SEC indictment

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

Republican Congressman demands preservation of Adani prosecution records

A Republican lawmaker has asked the US Department of Justice to preserve all records in connection with the "selective prosecution" of billionaire industrialist Gautam Adani and his group of companies by the Biden administration. The demand comes less than a week before the Donald Trump administration takes office. Rep Lance Gooden, a member of the House Judiciary Committee, in a letter on Tuesday to Attorney General Merrick Garland, demanded that the department preserve and produce all records and documents leading up to its decision to go after the Adani Group. In another letter to Garland on January 7, Gooden had raised serious concerns over the department's recent indictment of the group. The indictment alleged acts conducted entirely within India, involving Indian citizens and officials, with no apparent injury to US interests, he had noted. "The allegations in the Adani case, even if proven true, would still fail to make us the appropriate and final arbiter on the issue. The

US Congressman challenges Biden admin's decision to investigate Adani

Challenging the decision of the Biden Administration to investigate the activities of Indian billionaire Gautam Adani and his companies, an influential Republican lawmaker on Tuesday said such selective actions risk damaging critical alliance partners. In a strongly worded letter to US Attorney General Merrick B Garland, Congressman Lance Gooden, member of the House Judiciary Committee, demanded answers on the Justice Department's selective prosecution of foreign entities and the potential harm such actions pose to US's global alliances and economic growth and that if there is any Geroge Soros connection to it. The Department of Justice's selective actions risk damaging critical alliances with key partners like India, one of America's strongest allies in the Asia-Pacific region, Gooden said in his letter dated January 7. Instead of pursuing cases with tenuous jurisdiction and limited relevance to US interests, the DOJ should focus on punishing bad actors at home, rather than chasing

Adani Group's US SEC, NY cases assigned to one judge for efficiency

US SEC and Eastern District of New York cases against Adani Group, alleging a $265 million bribery scheme, assigned to a single judge for smoother handling while remaining distinct

Adani Green Energy's CEO Amit Singh to step down for new role in group

He will be replaced by Ashish Khanna starting April 1, who is the current CEO of the group's international energy business

Sri Lanka to focus on $1 bn Adani projects, unconcerned about global issues

Sri Lanka decided to review two projects worth about $1 billion linked to the Adani Group after US authorities last month accused Adani Group Chairman Gautam Adani and seven others

Ambani, Adani exit Bloomberg's $100 billion club amid financial setbacks

Mukesh Ambani and Gautam Adani, once part of Bloomberg's $100 billion club, have dropped out as their fortunes fell below $100 billion amid business challenges, legal scrutiny, and market setbacks

SECI changes bidding policy after bribery allegations on Adani Group

About 75 per cent of SECI's new bids for renewable power will now be based on specific demand from states instead of the earlier practice of mainly seeking power suppliers first through tenders

US' case against Gautam Adani strong but extradition unlikely: Experts

Adani, his nephew Sagar Adani, and another Adani Group executive were charged with securities fraud and conspiracy

Opposition protests in parliament, demands JPC probe on Adani issue

Several opposition MPs on Thursday staged a protest inside Parliament complex carrying placards of different Hindi letters that jointly read 'desh bikne nahin denge' and raised slogans to reiterate their demand of a joint parliamentary probe into the Adani issue. This is the latest in a series of unusual daily demonstrations led by the Congress over the Adani issue. Congress general secretary Priyanka Gandhi Vadra, MPs from the Congress, DMK, and the Left parties, among others, stood in front of the Makar Dwar steps and in front of Samvidhan Sadan with most of them carrying the placards that together read 'desh bikne nahin denge (will not let the country be sold off)'. They raised slogans against the alleged collusion between Modi and Adani and demanded a joint parliamentary committee (JPC) probe into the matter. On Wednesday, several opposition MPs greeted their BJP counterparts in Parliament premises with a tricolour in the form of a card in one hand and a red rose in the other,

JP Morgan sees no signs of stress across key Adani Group entities

Global brokerage gives 'overweight' rating to four Adani Group bonds, but sounds a note of caution on a bond issued by Adani Green Energy

US State Department, 'deep state' trying to destabilise India: BJP on OCCRP

Congress has used OCCRP articles on Adani Group to criticise Prime Minister Narendra Modi, alleges BJP

JP Morgan gives 'overweight' rating to 4 Adani bonds on growth capability

US investment banker JP Morgan has given 'overweight' rating on four Adani group bonds, comforted by ability to scale and grow using internal cash flows which reduces the scope for credit stress. In a report, JP Morgan gave 'overweight' rating on three bond issues of Adani Ports & SEZ and one by Adani Electricity Mumbai Ltd (a subsidiary of Adani Energy Solutions Ltd). It has taken neutral stand on other five Adani bonds and is underweight on one bond issued by Adani Green Energy Ltd. JP Morgan gives three kinds of ratings for bonds - 'Overweight' rating which falls into a buy rating category; Neutral rating which falls into a hold rating category; and 'Underweight' which rating falls into a sell rating category. Under the risks section, it said that Adani bonds could do well than anticipated if there is a quick resolution of the US SEC and Department of Justice indictments of founder chairman Gautam Adani and key aides on bribery charges, successful refinancing of the upcoming ...

Several Oppn MPs take out protest march in Parliament on Adani issue

Several Opposition MPs led by the Congress on Friday held a protest march inside Parliament complex on the Adani issue, wearing black masks that read "Modi Adani bhai bhai". The protest saw several leaders from some of the INDIA bloc parties marching, holding a copy of the Constitution and raising slogans against industrialist Gautam Adani. RJD, JMM and left parties' MPs were among those who joined the protest. TMC and Samajwadi Party, which did not participate in demonstration, have so far stayed away from any such denunciation of Adani. The decision has been seen by the ruling Bharatiya Janata Party (BJP) as a "division" in the opposition bloc. Leader of Opposition in Lok Sabha Rahul Gandhi and his sister Priyanka Gandhi Vadra, the newly elected MP from Wayanad , were among those present in the march. Priyanka later alleged that the government was scared of holding a discussion on the Adani issue and wondered why was it so. The Congress and several other opposition parties hav

Manickam Tagore gives adjournment motion to discuss Adani's indictment

Tagore alleged that Prime Minister Narendra Modi and his government are prioritising Adani's profits over the welfare of the Indian people

Cong accuses coverup, urges Sebi to take strict action on Adani group

The Congress Wednesday said a "cover-up" is in the making after reports claimed entities connected to the Adani Group have approached the SEBI seeking settlement in a case that alleges violations of public shareholding norms through unfair practices. It asserted the "scam" requires serious punitive action, including arrests and raids by investigative agencies. Congress general secretary in-charge communications Jairam Ramesh said a token settlement would make Indian institutions a laughing stock whose reputation has already been tarnished by the actions of Prime Minister Narendra Modi and "his cronies". His remarks come amid reports that several entities connected to Adani Group have approached the Securities and Exchange Board of India (SEBI) seeking settlement in a case that alleges violations of public shareholding norms through unfair practices at four listed companies of the infrastructure conglomerate. "A cover-up is in the making. Reports that opaque offshore entities and ..