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Gautam Adani's wealth plummeted by $15 billion following charges from US prosecutors related to a $250 million bribery scheme. The allegations caused significant declines in the stock and bond values of his companies, erasing his gains for the year.
Congress leader Rahul Gandhi has accused Prime Minister Narendra Modi of protecting Gautam Adani, following the billionaire's indictment in the US for allegedly paying $250 million in bribes to Indian officials for favorable solar power contracts. Gandhi questioned why Adani remains free in India despite these serious charges.
BJP IT cell head Amit Malviya responded to Congress's criticism following US prosecutors charging Gautam Adani with a $250 million bribery scheme. He pointed out that the states implicated in the indictment were governed by opposition parties at the time and questioned the timing of the charges, coinciding with the upcoming Parliament session and Donald Trump's presidency. Adani's stocks have reportedly plunged 20% in light of the allegations.
Indian billionaire Gautam Adani has been indicted in New York for his alleged involvement in a $265 million bribery scheme. As a first-generation tycoon, his remarkable ascent has been marred by numerous controversies both domestically and internationally.
Moody’s Ratings has labeled the bribery charges against Gautam Adani, chairman of the Adani Group, as credit negative for the conglomerate. The U.S. indictment alleges Adani and senior executives were involved in a $250 million bribery scheme to secure solar energy contracts, leading to concerns among international investors. The charges include false statements to U.S. investors and obstructing justice by tampering with evidence.
Gautam Adani faces US charges for allegedly orchestrating over $250 million in bribes to Indian officials for solar energy contracts. The indictment details his personal meetings with authorities, co-conspirators' communications, and extensive documentation of their bribery efforts.
VinFast is exploring partnerships with Hyderabad-based Megha Engineering & Infrastructures (MEIL) and the Adani Group as it prepares to launch electric vehicles in India. The company is considering local collaborations to secure capital and navigate regulatory challenges while establishing a factory in Tamil Nadu. Although discussions are ongoing, no formal agreements have been made yet.
PSP Projects' share price plummeted over 9% on November 21, following US charges against Gautam Adani related to a Rs 2,100 crore bribery scheme for solar energy contracts in India. This decline occurred just after the announcement of Adani Infrastructure's acquisition of a 30.07% stake in PSP Projects for Rs 685 crore, which will lead to a reconstitution of the company's board. The stock hit an intraday low of Rs 609 on the NSE.
Shares of Adani Group companies experienced a significant decline on Thursday following the announcement that U.S. prosecutors have charged the billionaire chairman of the Indian conglomerate in connection with an alleged bribery and fraud scheme. The legal developments have raised concerns among investors, impacting the company's market performance.
Adani Group's founder, Gautam Adani, has been charged in the US with a $250 million bribery scheme related to solar energy contracts in India. The indictment alleges that he, along with Sagar R Adani and Vneet S Jaain, made false statements to investors and obstructed justice by deleting evidence. The SEC has also filed a separate civil lawsuit against them.
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gautam adani loses 15 billion after us bribery charges
08:13 21.11.2024
rahul gandhi calls for adani's arrest after us indictment for bribery
08:11 21.11.2024
BJP defends against Congress amid Adani bribery charges from US prosecutors
07:45 21.11.2024
adani indicted in new york over bribery scheme amid controversies
07:43 21.11.2024
bribery charges against adani raise concerns for adani group companies
06:30 21.11.2024
gautam adani charged with bribery scheme for solar energy contracts
06:23 21.11.2024
VinFast explores partnerships with MEIL and Adani for India EV launch
05:46 21.11.2024
psp projects shares drop 9 percent amid adani bribery allegations
05:39 21.11.2024
adani group shares plunge after chairman charged with bribery and fraud
04:50 21.11.2024
adani group founder charged in us bribery case for solar contracts
04:48 21.11.2024
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