On November 21, US authorities indicted Gautam Adani and associates, alleging payment of bribes. Gautam Adani-led Adani Group has hired prominent US law firms, including Kirkland & Ellis and Quinn Emanuel Urquhart & Sullivan LLP, to handle civil and criminal proceedings initiated by the SEC and the Eastern District of New York, sources told ET….
Nate Anderson, declared the official disbandment of Hindenburg Research on January 15. Hindenburg Research shut down: Soon after Hindenburg Research founder announced that the firm would disband in the near future, Adani Group CFO has shared a cryptic post on social media platform X (formerly Twitter).In a post which could be seen as a reaction…
Currently, both Mukesh Ambani and his contemporary Gautam Adani, are confronting various challenges. India’s richest men, Mukesh Ambani and Gautam Adani, have seen their net worth drop below the $100 billion mark in the last few months. Currently, both Mukesh Ambani, who leads Reliance Industries Ltd, and his contemporary Gautam Adani, who established the Adani…
Gautam Adani (PTI file photo) MUMBAI: Following US securities and wire fraud allegations, Adani Ports and Special Economic Zone, led by Gautam Adani, has withdrawn from a financing arrangement with a US agency for a Sri Lankan port terminal project, opting instead to utilise its own resources. In light of the US indictment, securing loans…
An entity majority-owned by embattled billionaire Gautam Adani, who was indicted in US courts last month, has pulled back from a loan pact valued at $553 million from the US International Development Finance Corporation, according to a company filing.“The project will be financed through the company’s internal accruals and capital management plan. We have withdrawn…
Mark Mobius said, “I think the Justice Department in the US probably overstepped its bounds. It has gone too far.” Mark Mobius, Chairman of Mobius Emerging Opportunities Fund, has said that the US Department of Justice ‘overstepped its bounds’ in indicting Gautam Adani and other officials in the alleged bribery case. Mobius believes that the…
MUMBAI: The Adani group’s statement on the case brought by the US Department of Justice against its chairman and some executives helped revive investor interest in group companies’ stocks on Wednesday, with their prices rallying as much as 20%. As a result, the group’s total market capitalisation jumped by about Rs 1.2 lakh crore, BSE…
Adani Group Chairman Gautam Adani MUMBAI/NEW DELHI: Adani Green Energy said Wednesday that Gautam Adani, Sagar Adani and Vneet Jaain have not been charged with any violation of the Foreign Corrupt Practices Act (FCPA) on the counts mentioned in the criminal indictment of the US Department of Justice (DoJ) or the civil complaint of the…
NEW DELHI: The Adani Group on Wednesday denied bribery allegations made by US authorities against its founder Gautam Adani, his nephew Sagar Adani, and Adani Green Energy CEO Vneet Jaain. The denials were made in a stock exchange filing on November 27th, in response to news reports.Calling media reports of Foreign Corrupt Practices Act (FCPA)…
NEW YORK: The US SEC will have to serve the summons on the Adani group founder and chairman Gautam Adani and his nephew Sagar in the alleged $265 million (Rs 2,200 crore) payoffs through proper diplomatic channels as it has no jurisdiction to summon a foreign national directly, according to sources.The US Securities and Exchange…
