TRIAL AND TRIBULATION OF MR ADANI

TOPSY-TURVY | Indicted in the US on bribery charges; net worth drops by ₹2.19 lakh crore

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Billionaire Gautam Adani has been indicted by the US prosecutors for allegedly paying more than $ 265 million (about Rs 2,200 crore) in bribes to Indian government officials to obtain solar energy contracts worth billions of dollars for group company Adani Green Energy. It is understood that arrest warrants have been also issued for the tycoon and his nephew Sagar; prosecutors plan to hand over those warrants to foreign law enforcement agencies.

The Adani Group has denied the prosecutors' claims, calling the allegations "baseless." A spokesman said the company wanted to "assure our stakeholders, partners and employees that we are a law-abiding organization, fully compliant with all laws." Adani personally discussed the bribery plan with officials in person, it is alleged.

Adani Green also tried to raise money from US and international investors with a 2021 bond offering on the basis of false and misleading statements about the firm's anti-corruption and anti-bribery efforts, according to the indictment.