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US charges may renew questions on governance practices at Adani
Millennium Post Delhi
|November 23, 2024
NEW DELHI: The indictment of Adani Group's founder Gautam Adani by US prosecutors could renew questions over the ports-to-energy conglomerate's governance practices and damage its reputation, S&P Global Ratings said Friday.
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US prosecutors have charged Adani and seven others including his nephew Sagar, with agreeing to pay about $265 million in bribes to Indian government officials to obtain favorable terms for a solar power supply contract. Adani Group has denied all charges, calling them "baseless", and said it would seek "all possible legal recourse".
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