Tag: bribery charges Tirunelveli News Today

Adani Group's Bond Prices Plummet as Gautam Adani Faces US Bribery and Fraud Charges

26 Jan

Business Rohan Neeraj

Gautam Adani, the leader of Adani Group, faces charges of bribery and fraud in New York. Accused alongside associates, Adani is charged with paying $265 million in bribes to secure solar contracts, potentially yielding $2 billion in profits. Following the indictment, bond prices of the Group's companies dropped significantly, echoing similar financial concerns raised in February 2023.

Gautam Adani Faces US Legal Turmoil: Unveiling Charges of Bribery and Market Reactions

26 Jan

Business Rohan Neeraj

Gautam Adani, the influential founder of the Adani Group, is caught in legal turmoil as he faces serious allegations of bribery and fraud in the United States. The Department of Justice (DOJ) accuses him and his associates of distributing over $250 million to Indian officials to secure solar energy contracts projected for massive profits. As the American legal system takes its course, this has had profound effects on the Adani Group's market value, with stocks plummeting sharply.

Adani Group Faces Financial Tumult Amid Alleged Bribery Charges Against Gautam Adani

17 Jan

Business Rohan Neeraj

Adani Group's stocks took a nosedive in response to the charges against Gautam Adani for allegedly orchestrating a bribery scheme affecting U.S. investors. The U.S. SEC outlined accusations of securities fraud related to Indian solar energy contracts. This led to significant losses, lowering the group's market value by billions and adversely impacting its credit ratings. The case has cast doubts on the conglomerate's ethical integrity and future growth.