Page 10 - Gautam Adani

Cong demands discussion on Adani indictment in Parliament, urges CBI probe

Congress MPs Manickam Tagore, Randeep Singh Surjewala and Manish Tewari moved adjournment notices in this regard

Gautam Adani, nephew not charged under US FCPA, says Adani Green Energy

Billionaire Gautam Adani and his nephew Sagar Adani have not been charged with any violations of the US Foreign Corrupt Practices Act (FCPA) in the indictment filed by US authorities in a court in a bribery case, the Adani Group said on Wednesday. Gautam Adani, founder chairman of the ports-to-energy conglomerate, Sagar Adani and another key executive, Vneet Jaain, have been charged by the US Department of Justice with being part of an alleged scheme to pay USD 265 million in bribes to Indian officials to win contracts for supply of solar electricity that would yield USD 2 billion profit over a 20-year period. In a stock exchange filing, Adani Green Energy Ltd, which is at the centre of the bribery allegations, said reports claiming that the three have been charged with FCPA violations "are incorrect". They have been charged with offences that are punishable with a monetary fine or penalty. "Gautam Adani, Sagar Adani and Vneet Jaain have not been charged with any violation of the F

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Charges against Adani can be withdrawn after Trump takes over: Lawyer

There remains a possibility that the USD 265 million bribery case against Indian billionaire Gautam Adani can be withdrawn if the charges against him are deemed unworthy or defective after Donald Trump takes over as the US President, a prominent Indian-American attorney has said. Attorney Ravi Batra told PTI that while every new president has a new team, President-elect Trump as the 47th President of the US, who is forgoing FBI-checks for his Cabinet, will "neuter any prosecution that's not based in good faith, but is what he has powerfully termed: lawfare. Essentially, that means the law is being applied selectively to target one's opponents, which naturally denies the target of equal protection of the law guaranteed by our Federal constitution, Batra said. He added that that is an issue Gautam Adani can raise with his government, and request them to raise bilaterally with the incoming administration of Trump, who will be sworn in as the 47th US President on January 20, 2025. "If

'No new financial commitments under discussion with TotalEnergies': Adani

French energy conglomerate TotalEnergies would pause further investments in Adani Group companies due to corruption allegations made by the US SEC

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

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

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.

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

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

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

Adani-Hindenburg case: SC plea to take US charges against Adani on record

The petitioner has also called for the conclusive report by the Securities and Exchange Board of India (Sebi) on the probe carried out till now

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

BJP win in Maharashtra to bolster Adani's $3 bn Dharavi slum project

The landslide victory for ruling BJP-led Mahayuti in Maharashtra will booster billionaire Gautam Adani-led group's USD 3-billion project to redevelop Mumbai slum of Dharavi into a "world-class" district. Opposition Uddhav Thackeray-led Shiv Sena (UBT) had pledged to reclaim all land given to the Adani group for redeveloping Asia's largest slum and promised to scrap the project altogether, if voted to power. For Adani, who is facing bribery charges in a US court, the scrapping of his pet Dharavi project would have been a big setback. With election results showing the BJP and its allies Shiv Sena and Nationalist Congress Party factions led by Eknath Shinde and Ajit Pawar, winning more than three-fourths of the 288 seats in the Maharashtra assembly, those anxieties have now been set to rest. Adani plans to turn 620 acres of prime land, about three quarters of the size of New York's Central Park, into a glitzy urban hub. About seven lakh living in rickety shanties with open sewers and

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