Page 8 - Latest Updates on Gautam Adani SEC indictment

Never entered into agreement to operate airport in Kenya: Adani Group

The group was responding to notices sent by stock exchanges to confirm reports of Kenyan President William Ruto ordering the cancellation of a procurement process

US SEC summons Gautam Adani, nephew Sagar in alleged bribery case

Adani group founder and chairman Gautam Adani and his nephew Sagar have been summoned to explain their stand on the US Securities and Exchange Commission (SEC) allegation of paying USD 265 million (Rs 2,200 crore) in bribes to secure lucrative solar power contracts. Summons have been sent to Adani's Shantivan Farm residence in Ahmedabad and his nephew Sagar's Bodakdev residence in the same city for a reply to SEC within 21 days. "Within 21 days after service of this summons on you (not counting the day you received it)...you must serve on the plaintiff (SEC) an answer to the attached complaint or a motion under Rule 12 of the Federal Rules of Civil Procedure," said a November 21 notice sent through the New York Eastern District Court. "If you fail to respond, judgment by default will be entered against you for the relief demanded in the complaint. You also must file your answer or motion with the court," it added. Gautam Adani, 62, and seven other defendants, including his nephew .

Adani Group to respond to US bribery allegations after legal review

Adani Group has denied any wrongdoing and said it would seek all possible legal recourse to defend itself

Adani CFO defends against US charges, says linked to one business contract

Group CFO Jugeshinder Singh sought to defend allegations saying none of Adani's 11 public companies 'are subject to indictment' or 'are accused of any wrongdoing in the said legal filing'

'No indictments against our 11 public companies': Adani CFO on US report

Adani Group CFO Jugeshinder Singh dismissed the allegations as 'baseless,' assuring stakeholders of no direct involvement by any Adani entity in unlawful acts

Centre must arrest Adani to save India's reputation, says DK Shivakumar

There is no point in protecting Adani, government has to protect the people of the country who have invested thousands of crores in Adani's companies, he urged

Green energy stocks fail to benefit from selloff in Adani Green Energy

The stocks command a market capitalisation between Rs 5 560 crore and Rs 89,058 crore

Adani group: State Bank of India has Rs 33,800 cr exposure, shows data

Meanwhile, among private banks, who only 4 per cent share in Adani group's debt, Yes Bank, ICICI Bank, IDBI Bank, and IndusInd Bank, and others have substantial exposure to the group

Adani US Indictment: Banks' risk management units begin stock-taking

May escalate matter for board-level discussion

Most Adani shares rebound as six of 10 group companies post gains

Post Hindenburgh's allegation, the group's market capitalisation declined to Rs 6.8 trillion on February 27, 2023. But it recovered later

Sebi asks exchanges to look into disclosure concerns on Adani Group

Exchanges have sought clarification from the group entities on LODR-related lapses, if any

Markets bounce back sharply on bargain hunting; Sensex rises 1,961 points

Benchmarks register third-best day of this year

Adani group row may test resilience of project exports from India

The government has been pushing to promote project exports and sees it as a next big opportunity

Adanis knew of US probe when they sold assets to TotalEnergies: Prosecutors

TotalEnergies bought a 20% stake in Adani Green Energy in January 2021 - after the Indian company won what was then the world's largest solar order

Adani saga: SECI, NTPC top power contractors for Adani Green Energy

AGEL's plans to increase its capacity more than five-fold to 50 GW by 2030

Global lenders may freeze fresh credit to Adani firms, await govt reaction

The banker said most of the group firms have stable cash flows and are not in "desperate need" to raise capital

S&P Global revises its outlook on three Adani entities to 'negative'

S&P Global Ratings in a statement said US indictment of three board representatives of Adani Group entity could affect investor confidence in other group entities

Adani group firms' debt to equity ratio at 15-year low in H1 FY25

In post-Covid period, their net worth has grown at a faster clip than borrowing

Will act on 'irregularities': Andhra Pradesh CM on Adani Group case

Congress demands JPC probe; BJP says DMK, BJD, YSRCP are 'close to Cong'

Adani's reckoning: Sebi probes, political uproar, and foreign capital woes

Sebi may now launch fresh inquiries. Parliament will open to uproar, and Adanis' access to foreign capital will become impossible. The damage this time will be deeper and longer-lasting