Adani Group faces US chargesBRIBERY ALLEGATIONS: An Adani statement denied all charges, while share prices plummet and Indian opposition leader Rahul Gandhi called for the founder’s arrestAFP, NEW DELHIIndia’s Adani Group yesterday called US charges that their billionaire tycoon founder Gautam Adani had paid more than US$250 million in bribes “baseless,” as the opposition leader demanded his arrest. Chairperson and founder of Indian conglomerate Adani Group, Gautam Adani, speaks at the World Congress of Accountants in Mumbai on November 19, 2022. But we know that won’t happen as Modi is protecting him,” Gandhi told reporters in New Delhi. Adani and two other board members of his Adani Group “lied about the bribery scheme as they sought to raise capital from US and international investors,” US attorney Breon Peace said in a statement. The indictment drove steep losses in flagship listed unit Adani Enterprises Ltd and multiple other subsidiaries immediately after the Mumbai stock exchange reopened yesterday.

Source: Taipei Times November 21, 2024 16:39 UTC