US indictments landed a blow on Adani Group, with international deals being reviewed and ratings agencies changing outlook. But recent efforts have helped it claw back market cap.
Global media, however, acknowledges that India does indeed face a Chinese threat. It also notes that controversy surrounding Adani Group creates problems for India’s own domestic growth.
This is significant since US said SECI was having trouble finding buyers for Adani & Azure solar power due to high rates. The firms then allegedly promised bribes to state govt officials.
Adanis not named in allegation of conspiracy to violate US Foreign Corrupt Practices Act, have been named in 'two or three counts relating to securities and bonds', says Rohatgi.
In a filing with the stock exchanges, the group has cited the news reporting on the alleged bribery & corruption charges against Adani officials as 'incorrect'.
Under pressure from opposition BRS, CM says corpus fund Adani offered 'being projected as some benefit to me or my govt', adds 'we have asked Adani Group to stop the fund transfer'.
Explaining the reasoning behind the decision, Telangana CM Revanth Reddy cited concerns over recent controversies and the need to uphold the state's reputation.
U.S. International Development Finance Corporation has not reached a final agreement on the loan, an official with the agency said in an email to Bloomberg.
The US indictment relates to 'a single Adani Green contract, about 10% of its business,' Singh stated on X, adding that the group will provide further details soon.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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