Gautam Adani, the Adani Group’s chairman, is facing criminal accusations in the United States for allegedly paying $250 million in bribery to Indian authorities to gain contracts for India’s largest solar power plant. Here’s what’s next for the Indian billionaire: Gautam Adani is accused of international bribery, securities fraud, wire fraud conspiracy, and other crimes. … Read more
On November 21, Kenyan President William Ruto announced that he has instructed the government to halt the procurement process for the expansion of the nation’s principal airport, wherein the Adani Group’s bid was being considered. Ruto claimed to have also ordered the energy ministry to revoke a more than $700 million agreement it had made … Read more
According to news agency Reuters, the indictment of Gautam Adani, the billionaire head of the Adani Group, on bribery and fraud charges in New York caused a sharp decline in the dollar bond prices of Adani Group firms in early Asian trade on Thursday, November 21. According to LSEG statistics, debt issued by Adani Port … Read more
Adani Group Chairman Gautam Adani said yesterday that the company will spend $10 billion in infrastructure and energy security projects in the United States with the goal of creating up to 15,000 employment in the country. Mr. Adani acknowledged the growing collaboration between the US and India and stated that the Group is dedicated to … Read more
According to Kenya’s Cabinet Secretary for Energy, Opiyo Wandayi, an Indian billionaire Gautam Adani-led group, has inked a deal to construct and run major energy transmission lines in the country for 30 years. Adani Energy Solutions Ltd signed a project agreement with the Kenya Electricity Transmission Company Ltd (Ketraco). “This agreement marks the beginning of … Read more
The Adani Group is once again in the limelight as the stock market experiences its ups and downs. As investors were beginning to relax, Hindenburg Research unleashed yet another bombshell, bringing forth new accusations, which caused Adani stocks to plummet. Early on Friday morning, Adani Group shares experienced a 2% decline following a report by … Read more
Shares of Adani Group companies fell up to 7% leading to investors losing around ₹53,000 crore as the combined market capitalization of 10 Adani stocks falling to ₹16.7 lakh crore. This comes after allegations were leveled against Sebi chief by US short seller Hindenburg in a report which alleged that Madhabi Puri Buch and her … Read more
U.S. based short-seller Hindenburg Research released a new report on Saturday alleging that the chairperson of India’s market regulator (SEBI) Madhabi Puri Buch previously held investments in certain offshore funds that were also used by Adani Group. The report said that these obscure financial systems were allegedly used in the “money siphoning scandal.” Hindenburg’s report … Read more
The Adani Group has inked memorandums of understanding (MoUs) for a substantial investment of over ₹42,700 crore in Tamil Nadu during the Global Investors Meet 2024. The largest chunk of this investment, amounting to ₹24,500 crore, will be spearheaded by Adani Green Energy Ltd, dedicated to three pump storage projects (PSP) over the next 5-7 … Read more
In a significant development for India’s maritime infrastructure, the Vizhinjam transshipment container port, developed by Adani Ports and Special Economic Zone Ltd., is set to be inaugurated. This state-of-the-art port, located near the southernmost tip of India, promises to reshape the country’s role in international maritime trade. This article explores the key features, challenges, and … Read more