Tag: market impact Tirunelveli News Today

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Adani Bribery Allegations Cause Market Shock: $600 Million Bond Withdrawn

2 Dec

Business Rohan Neeraj

Adani Green Energy Ltd. pulled its $600 million bond due to bribery charges. Accusations involve $265 million bribes for contracts with $2 billion profit potential. The US filed charges, affecting Adani's stocks and bond prices. Adani denies the claims, calling them baseless, while pursuing legal actions.