Page 6 - Latest Updates on Gautam Adani SEC indictment

Adani Group shares drew retail investors just before US probe pullback

Individual stock holdings in eight of the group's 10 listed companies rose between December 2022 and September-end this year, according to quarterly shareholding data compiled by Bloomberg

Was kept in dark over YSRCP govt initiating SECI deal: Ex-Andhra minister

Former Andhra Pradesh Energy Minister and Janasena leader B Srinivasa Reddy on Monday said that he had no knowledge of the erstwhile YSRCP regime initiating a deal with the Solar Energy Corporation of India (SECI), which is now embroiled in an alleged international bribery scandal. Business tycoon and Adani Group chairman Gautam Adani has been charged by the US Department of Justice over his role in an alleged years-long scheme to pay USD 250 million bribe to the Indian officials in exchange for favourable terms for solar power contracts, an allegation refuted by the Indian conglomerate. The previous YSRCP regime in Andhra Pradesh is embroiled in this alleged scam with claims that government officials received bribes from the Adani Group. Reportedly, the southern state signed solar power deals with the SECI which are also allegedly connected to these allegations. I don't know that they (erstwhile YSRCP regime) spoke to SECI. They are saying that I signed the document. I didn't sign

Adani case: US state dept declines comment on disruptions in Parliament

The US State Department refused to comment on the disruptions in Indian Parliament over the indictment of billionaire Gautam Adani in a US court on charges of bribery. "That is a law enforcement matter," State Department Spokesperson Matthew Miller told reporters at his daily news conference on Monday. He was responding to a question about Leader of Opposition in Lok Sabha Rahul Gandhi demanding the immediate arrest of Adani. "Is this something you support, such as the arrest and investigations, charges against Adani" he was asked. "I would defer to my colleagues at the Department of Justice to speak to it," Miller said. The US authorities have indicted Gautam Adani and seven others including his nephew Sagar Adani, for being part of an alleged USD 265 million bribery scheme. Lok Sabha and Rajya Sabha proceedings were adjourned for the day on Monday as opposition parties led by Gandhi's Congress tried to raise the issue of Adani's indictment. Last week, a five-count criminal ...

Will not compromise on demand for JPC probe into Adani issue: Ramesh

Jairam Ramesh noted that the opposition parties will also demand a discussion on Manipur and Nagaland

TotalEnergies pauses investments in Adani Group after bribery charges

But group wins GQG's vote of confidence

Comfortable liquidity, enough debt cover for 28 months: Adani group

Group reports Rs 53K cr cash buffer, robust operational cash flow amid bribery charges

GQG Partners reaffirms confidence in Adani group despite US indictment

In March 2023, GQG invested in five companies of the Adani group, including flagship Adani Enterprises, Adani Ports & SEZ, Adani Green, Adani Energy Solutions, and Ambuja Cements

Here's all you need to know about Adani's US SEC bribery indictment

The scandal has also raised concerns about market and public disclosure lapses by Adani Group

Adani Group shares surge up to 7%; extend recovery post Maha poll verdict

Last week, shares of Adani Group tanked up to 28% after Gautam Adani, along with other executives, were charged by US prosecutors with bribery, fraud charges.

Parliament winter session: Both Houses adjourned, to meet again on Nov 27

Rajya Sabha proceedings were adjourned for the day on Monday as opposition parties led by the Congress tried to raise the issue of the indictment of Adani group founder chairman Gautam Adani and others in a US court on charges of paying bribes to secure solar power supply contracts. The House will meet again on Wednesday (November 27). There will be no sitting of Parliament on Tuesday to commemorate the 75th anniversary of the Constituent Assembly's adoption of the Constitution in 1949. Earlier, Chairman Jagdeep Dhankhar disallowed 13 notices served under rule 267, including seven that sought a discussion on the US indictment on the alleged payment of USD 265 million in bribes. But the Congress and Left parties insisted on a discussion, forcing a 15-minute adjournment of proceedings. Soon after listed papers were laid on the table of the House and obituary references read out on the death of former MPs, Dhankhar said he had received 13 notices under rule 267 but was not convinced to

Vedanta tests offshore dollar bond demand amid Adani-induced uncertainty

Vedanta Resources Finance II Plc's notes due in April 2026 have climbed nearly to par, after touching a low of about 60.4 cents in January

Oppn pushes for discussion on Adani: Cong, AAP give notices in Parliament

Earlier, Congress MP Manickam Tagore B also announced that he would also move for an adjournment motion in Lok Sabha

Adani Group assures 'enough cash flows' amid US allegations fallout

Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report

Adani indictment may test Trump's desire to keep India in US orbit

For India in particular, the charges against Adani only reinforces its strategy to keep a foot in both major camps, staying friendly with the US while also keeping up good ties with Russia, China

Parliament session kickstarts today: Waqf bill, Adani case to be discussed

Congress MP and Leader of Opposition in Rajya Sabha Mallikarjun Kharge is expected to decide the strategy

Adani bond prices hit one-yr low as investors weigh US bribery allegations

Ports bonds maturing in 2027 were down 1.6 cent to 88.98 cents on the dollar, having lost nearly 7 cents in face value

US SEC indictment of Adani jolts Asia's offshore bond market revival

While Adani denies any wrongdoing, the capital markets blowback is brutal

US development agency assessing ramifications on Adani's Sri Lanka project

US International Development Finance Corp last November said it would provide $553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka

B'desh seeks to review major energy projects; Adani Group's one on list too

A review committee formed by Bangladesh's interim government on Sunday recommended engaging an investigation agency to examine power agreements signed by deposed prime minister Sheikh Hasina's regime with different business groups, including one with India's Adani Group. The National Review Committee on Ministry of Power, Energy and Mineral Resources has recommended the appointment of a reputed legal and investigation agency to review the major power production agreements signed during the autocratic regime of Sheikh Hasina from 2009 to 2024, an official statement said. The statement, issued by Chief Adviser Muhammad Yunus's office, said the committee was currently reviewing seven major energy and power projects, including the Adani (Godda) BIFPCL 1234.4 MW coal-fired plant, a wholly-owned subsidiary of Adani Power Limited. The six other agreements include one with a Chinese company that built a 1320 MW coal-fired power plant, while the rest are with Bangladeshi business groups said

High costs: US charges to cause reputational damage for Adani and India

For a group that works in sectors where the ability to raise money and minimise political risk is essential, such news can hardly be easy to shrug off