Page 4 - Latest Updates on Gautam Adani SEC indictment

No negative actions so far by investors on Adani after indictment: CRISIL

Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin. On November 20, 2024, the United States Department of Justice and the US Securities and Exchange Commission (SEC) issued an indictment and a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against Gautam Adani, Sagar Adani and Vneet Jaain, key functionaries of Adani Green Energy Ltd (AGEL). The charges rela

Probe in US, protests in Australia: Global ambitions weigh on Adani Group

Indian conglomerate's rising international footprint has come with controversies

Adani solar project misses deadline, delays power supply to Andhra Pradesh

Adani Green Energy's solar project delays leave Andhra Pradesh waiting for power. The state is likely to receive only 1,000 MW by April 2025, much below the initial schedule of 3,000 MW

Japanese banks stick with Adani while Jefferies, Barclays review ties

Japanese support shows the divide among finance firms over Adani after he and others were charged with plotting a $250 million scheme to bribe India government officials to win solar energy contracts

Adani wipeout will hurt sentiment, not long-term outlook: Global investors

Investors expect a stronger spotlight on governance and disclosure, and perhaps some volatility, but say the affair has not challenged the reasons they are in India in the first place

Lok Sabha adjourned till 12 noon amid protests over Adani, Sambhal issues

Lok Sabha proceedings were adjourned till 12 noon on Thursday amid protests by Opposition members over the Adani issue, violence in Uttar Pradesh's Sambhal and other issues. As soon as the House met for the day, Congress leaders Priyanka Gandhi Vadra, who was elected from Kerala's Wayanad in the recent bypoll, and Ravindra Vasantrao Chavan, who was elected from Maharashtra's Nanded, took oath as Lok Sabha MPs. Immediately after the oath taking of the two new members, many Opposition members, including from the Congress, were on their feet as they sought to raise issues related to the allegations against the Adani Group and other issues. Some members from the Congress and Samajwadi Party were in the Well while other Opposition members stood in the aisle and shouted slogans. Speaker Om Birla asked the Opposition members to allow the Question Hour and said they can take up their issues later. "I have been giving you enough opportunities to raise your issues and will continue to do so

My name not mentioned anywhere, says Jagan Reddy on Adani bribe controversy

YSRCP top leader and former Chief Minister YS Jagan Mohan Reddy on Thursday strongly refuted allegations of payment of bribes to Andhra Pradesh officials by the Adani Group for solar power purchases during his party-led government, and said his name was not mentioned anywhere in a US court's indictment on the matter. In his first reaction days after the controversy broke out, Reddy also said he had met the Adanis several times during his tenure as the CM of Andhra Pradesh which was "not unusual". "Nowhere it mentions that incentives were offered to me because there is no way anybody can offer incentives to me, first of all. And businessmen meeting heads of states is not unusual. This in fact is an ordinary practice," he told reporters. He further said the allegations of bribes are all hearsay and nobody has said that Jagan or somebody has taken bribes. Adani Group chairman Gautam Adani has been charged by the US Department of Justice over his role in a years-long scheme to pay USD

RS proceedings washed out again amid uproar over Adani, Sambhal issues

Rajya Sabha proceedings were washed out for the third consecutive day on Thursday after uproar by opposition MPs over the Adani issue and violence in Manipur and Sambhal. Chairman Jagdeep Dhankhar's appeals that Parliamentary disruption was not a remedy but a malady which weakened the foundation of India's democracy went unheeded as the opposition members continued to protest. The proceedings of the Upper House were adjourned within minutes after it met at 12 noon, following one adjournment shortly after 11 am. Recalling that Wednesday marked a historic milestone -- the beginning of the final quarter-century before India's Constitution turned 100 -- Dhankhar lamented that the House members missed the opportunity to engage in productive dialogue. "This was a moment for our House of Elders, guided by the spirit of nationalism, to send a powerful message of hope to 1.4 billion Indians, reaffirming our commitment to their dreams and journey towards Viksit Bharat at 2047," he said. "Ye

Adani retains global support as Israel, others back it despite bribery row

The Adani Group holds a 70 per cent stake in Haifa port in northern Israel and is involved in military drone production, with plans for manufacturing commercial semiconductors

Indian banks reviewing exposure to Adani Group after US indictment

SBI has the largest exposure to the Adani Group among Indian banks, with sanctioned loans of Rs 33,800 crore ($4 billion)

From airports to cooking oil, a look at the diverse businesses of Adani

The renewable energy arm of the ports-to-power conglomerate is Adani Green Energy, which is at the center of the US indictment. It focuses on solar, wind and hybrid power generation and has a presence

Adani wipeout hurts but won't derail foreign investor faith in India

US allegations, denied by the company, are that Gautam Adani's colossal ports-to-energy conglomerate paid bribes to secure power sales and made misleading disclosures

Outlook on Adani investments unchanged amid indictment: Abu Dhabi's IHC

The IHC statement comes soon after Adani group emphasised that its chairman and his aides have not been charged under the US Foreign Corrupt Practices Act

Adani Group shares rally for 2nd day; Adani Green, Total Gas zoom up to 19%

At 11:09 am; Adani Total Gas was trading 14% higher, while Adani Green and Adani Energy Solutions were locked in the 10% upper circuit, as compared to nearly 1% decline in the BSE Sensex.

Adani bribery allegations highlight India's renewable energy struggles

SECI's chairman told Reuters last month that a three-fold increase in tendering of renewable projects has left 30 GW of projects for which bidding is complete, but without buyers

Gautam Adani, Sagar not charged with violation of FCPA of US: Adani Green

Group shares gain Rs 1.22 trn on Wednesday

Tanzania to keep pact with Adani for container terminal, says official

Adani Ports also struck a share purchase agreement for a 95 per cent stake in state-owned Tanzania International Container Terminal Services for $95 million

Sharp decline in Adani group mcap, valuation in the last two years

The decline started months before Hindenburg report in Jan 2023

US probe disclosure not mandated: Adani group companies tell bourses

Group said to have made submission stating it didn't disclose US probe as matter was sub judice, no charges were affirmed

Stock Market Close Highlights: Sensex adds 230pts, Nifty atop 24,250; NTPC Green, Adani shares shine

Stock Market Highlights: NTPC Green Energy, which made its debut today, ended higher by 8.74 per cent at Rs 121.25 on the NSE, from its IPO allotment price of Rs 108