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Adani not charged with bribery: Group
The New Indian Express
|November 28, 2024
ADANI Green Energy, the company indicted for alleged bribery and frauds by the US justice department and their markets watchdog SEC, on Wednesday said group chairman Gautam Adani and nephew Sagar Adani and another key official Vneet Jaain have not been indicted for corruption charges but only three counts of fraud.
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The claim came a day after two rating agencies, Moody's and Fitch, had downgraded seven of the group companies. However, this has lifted the share prices of the group companies, collectively rallying to add ₹1.2 trillion to their market cap.
After the crisis hit, the 11 listed group companies had lost more than ₹3 trillion in value.
This story is from the November 28, 2024 edition of The New Indian Express.
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