BS EDIT: Adani Group in the spotlight: What’s at stake?

By Business StandardPublished On Nov 25, 2024

The latest allegations

US prosecutors accuse Adani Group of bribery, misleading investigators, and evidence destruction following an FBI-led probe

Legal and market repercussions

Adani denies charges but faces fallout: Rs 2 trillion lost, $600 mn bond sale, Nairobi airport, and $736 mn Kenya power deals cancelled

Fallout for Adani’s global ops

Kenya cancels Adani projects citing new evidence. Global investors cautious; further fallout expected from group's international ventures

Broader implications for India

Corporate scandals risk India's global reputation. Vedanta pauses bond sale amid volatility, threatening foreign investment appeal

Need for transparency

Indian regulators must close disclosure gaps, collaborate with US agencies, and probe bribery claims to rebuild investor confidence and credibility

Lessons for India Inc.

Promoting national champions risks harming the "India story." Transparency, governance, and accountability are vital for global credibility