Gautam Adani bribery case live: According to ABC, an “arrest warrant has been issued (against Gautam Adani) and handed over to (US) foreign board Enforcement.”

(posted on X)

Gautam Adani bribery case live: GQG Partners monitoring Adani Group holdings

“We are monitoring the charges brought by the US Attorney’s Office for the Eastern District of New York and the US SEC against Gautam Adani and certain other Adani Group executives and companies.” 

Gautam Adani bribery case Live: United States Justice Department indicts Gautam Adani and 7 other senior executives on charges to bribe Indian officials -Live Law

Gautam Adani indictment in US: Jairam Ramesh, Congress General Secretary, in-charge Communications, wrote on X

“The answer is clearly for a new and credible SEBI head to be appointed to complete the securities law investigations into the Adani MegaScam, and for a JPC to be set up immediately to investigate its full extent.”

Gautam Adani indictment in US: Jairam Ramesh, Congress General Secretary, in-charge Communications, wrote on X

“The INC reiterates its demand for a JPC into the transactions of the Adani Group, which is leading to growing monopolisation in key sectors of the Indian economy, fueling inflation, and posing huge foreign policy challenges as well, especially in our neighbourhood.”

Adani Group stocks in focus: 

Adani Enterprises down 10%

Adani Ports down 10%

Adani Green down 18%

Adani Energy Solutions down 20%

Adani Power down 13.3%

GQG Partners share price update: US investment firm GQG Partners to review Adani Group holdings; shares down 17%

Adani Group stocks in focus: Adani Group stocks down 8-20 per cent on reports that the United States Justice Department indicts Gautam Adani and 7 other senior executives on bribery charges.

Adani Green Energy in focus: Adani Green Energy’s dollar notes fell by a record 15 cents, and other bonds from the conglomerate dropped significantly

Bloomberg input

Adani Group scraps $600 million bond on US bribery charges – Bloomberg

Units of Adani Group scrapped a $600 million dollar bond on Thursday after US prosecutors charged Gautam Adani, the group founder with participating in an alleged bribe plot. The group’s existing US-currency notes plunged in Asian trading. 

The conglomerate decided not to proceed with the offering in view of recent press releases from Department of Justice and the Securities and Exchange Commission, according to a person familiar with the matter who asked not to be identified.

Billionaire Adani, one of the richest men in the world, was charged with allegedly participating in a scheme that involved promising to pay more than $250 million in bribes to Indian government officials to secure solar energy contracts. Hours before, units of the billionaire’s conglomerate had priced a bond offering that it later told investors it would scrap. 

“While Adani has shown resilience in weathering past allegations, including those from Hindenburg, this development underscores the persistent risks associated with emerging markets, particularly around governance, transparency, and regulatory scrutiny,” said Mohit Mirpuri, a fund manager at Singapore-based SGMC Capital Pte.

Bloomberg input | Read here

Gautam Adani indicted in the US over alleged $250 million bribe plot – Bloomberg

US prosecutors charged Gautam Adani with helping drive a $250 million bribery scheme, threatening to throw the Indian tycoon’s conglomerate back into turmoil just as it rebounded from a short-seller’s fraud allegations.

Federal prosecutors alleged on Wednesday that Adani, one of the world’s richest people, and other defendants promised to pay more than $250 million in bribes to Indian government officials to win solar energy contracts, and concealed the plan as they sought to raise money from US investors. The five-count indictment also accuses Gautam’s nephew Sagar R. Adani and Vneet S. Jaain, both executives at an Indian renewable-energy company, of breaking federal laws.

“The defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars,” Breon Peace, US Attorney for the Eastern District of New York which brought the case, said in a statement. US law allows federal prosecutors to pursue foreign corruption allegations if they involve certain links to American investors or markets. 

Bloomberg input