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Indian billionaire Gautam Adani. | Photo Credit: Reuters The U.S. fraud case against Indian billionaire Gautam Adani appears to be backed by documents that will help prosecutors make a strong case, legal experts said, but the tycoon is unlikely to be extradited to stand trial anytime soon. Federal prosecutors in Brooklyn last month unsealed an…
Indian billionaire Gautam Adani. | Photo Credit: Reuters An Indian government agency charged with promoting renewable energy has changed the way it issues power tenders to reduce the risk of corruption after U.S. allegations of bribery in some tenders, said an official with direct knowledge of the matter. The Solar Energy Corporation of India (SECI)…
Prime Minister Narendra Modi. | Photo Credit: PTI The U.S. reacted sharply on Saturday (December 7, 2024) to the Bharatiya Janata Party’s allegation that the U.S. State Department was behind targeted attacks against Prime Minister Narendra Modi and Indian businessman Gautam Adani, denying the accusations and saying they were “disappointing”. In response to the series of…
Image used for representative purpose only. | Photo Credit: Reuters International Holding Co’s (IHC) outlook on investments in India’s Adani Group remains unchanged, the Abu Dhabi conglomerate said following the U.S. indictment of billionaire Gautam Adani. “Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors,”…
Read More “Abu Dhabi’s IHC says its outlook on Adani Group investments is unchanged” »
In May, Tanzania entered into a 30-year concession agreement with Adani Ports, a unit of Adani Group, to operate a container terminal in its Dar es Salaam port, known as Container Terminal 2. File | Photo Credit: Reuters “Tanzania plans to honour its contracts with an Adani Group unit despite a U.S. indictment of its…
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Gautam Adani, founder chairman of the ports-to-energy conglomerate, Sagar Adani and another key executive, Vneet Jaain, have been charged by the U.S. Department of Justice with being part of an alleged scheme to pay $265 million in bribes to Indian officials. File. | Photo Credit: PTI Billionaire Gautam Adani and his nephew Sagar Adani have…
Representational image of the Adani Group logo | Photo Credit: Reuters Ratings agency Fitch has put some of Adani Group’s bonds on watch for a possible downgrade after some of the firm’s key executives were indicted by U.S. authorities on bribery charges. Adani Energy Solutions Ltd, Adani Electricity Mumbai and some of Adani Ports and…
Read More “Fitch places some Adani bonds on negative watch after U.S. bribery charges” »
Adani Group CFO Jugeshinder Singh. | Photo Credit: Reuters None of Adani group portfolio companies, comprising 11 listed firms, have been accused of any wrongdoing, conglomerate’s CFO Jugeshinder Robbie Singh said on founder and chairman Gautam Adani’s indictment on bribery charges in the US. In a post on X (formerly Twitter), Mr. Singh said the…
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Indian billionaire Gautam Adani. | Photo Credit: Reuters A U.S. court indicted billionaire Gautam Adani and seven others including his nephew Sagar and three other executives on charges of fraud and bribery. The case pertained to a deal between Adani Green Energy and a U.S. seller for 12 gigawatts of solar power to be sold to various States. The…
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Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. | Photo Credit: Reuters Asserting that the relationship between India and the U.S. is built on a strong foundation, the White House has expressed confidence…
