adani group – Page 2 – Bhartiyanews24x7

22Nov

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‘Dangerous game of corruption … public will always lose’: Rahul Gandhi on US indictment charges against Adani | India News – Times of India

Congress leader Rahul Gandhi and Industrialist Gautam Adani (File Images) NEW DELHI: Congress leader Rahul Gandhi on Friday once again called out Gautam Adani after the indictment by the United States for alleged bribery and fraud, and said that he and Prime Minister Narendra Modi are protecting each other, adding that the industrialist gives funds to the PM and in return the "country's national assets is given him."In a post on X, Rahul Gandhi asked people to understand the "dangerous game" of corruption in which the public will always lose."This is a very dangerous game of corruption. Adani gives funds to Modi ji and in return Modi ji hands over the country's national assets to him. They both protect each other first. But who is paying the price for this? You, the common Indian!" he said...

22Nov

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Politics

Exchanges Demand Clarity On Adani Group’s Alleged Disclosure Breaches

Stock exchanges have sought explanations from Adani Group entities over alleged violations of disclosure norms concerning a US bribery case and Kenya's subsequent cancellation of major deals. The bourses are awaiting the conglomerate's response regarding the developments, which have drawn global attention. In its response on Thursday, Adani Group stated that "there are no allegations made against the company" in the US bribery case. The group has also denied accusations of paying bribes to secure favourable terms for solar power contracts, labeling the claims by US prosecutors as baseless. Adani Group asserted compliance with all laws and said it would pursue all possible legal remedies. While Adani Group addressed the US case, it has not yet responded to stock exchanges regarding Kenya’s ...

22Nov

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Politics

US indicts Adani for bribing officials in India, misleading investors; issues arrest warrants – Times of India

US prosecutors have indicted billionaire Gautam Adani and his nephew, Sagar Adani, among others, for their alleged role in a $265 million (Rs 2,000 crore) bribery case to secure solar power supply contracts in India, plunging the edible oil-to-ports giant into a second major controversy in 22 months, after the allegations by short-seller Hindenburg Research.Arrest warrants have been issued in the US for Gautam and Sagar Adani and US prosecutors plan to hand those warrants to foreign law enforcement, according to court records, Reuters reported.Early Wednesday, the US Department of Justice (DoJ) charged the two Adanis, former Adani Green CEO Vneet Jaain and former executives of Azure Power and Canadian pension fund CDPQ for alleged bribery to secure power purchase contracts from five states...

21Nov

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Politics

Decoding US charges against Gautam Adani and others: 10 points | India News – Times of India

Adani group head Gautam Adani (Image Credit: Adani's X account) NEW DELHI: Gautam Adani and his conglomerate, the Adani Group, are at the center of a major legal and financial storm following an indictment by US prosecutors. The charges allege that Adani, his nephew Sagar Adani, and other associates orchestrated a $265 million bribery scheme to secure lucrative solar energy contracts in India. Between 2020 and 2024, the accused reportedly bribed Indian officials to gain business advantages while misleading US investors and financial institutions about their anti-corruption practices.The charges against Adani and others have been filed in the US District Court for the Eastern District of New York, a prominent federal court known for handling high-profile cases involving corporate fraud, sec...

21Nov

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Politics

Kenya Cancels Power Transmission Deal With Adani Group Amid US Bribery Charges

The Kenyan government has announced the cancellation of a multi-million dollar deal with Adani Group following allegations of bribery and fraud leveled against the conglomerate by US authorities, as reported by news agency Reuters. Kenyan President William Ruto disclosed the decision on Thursday, stating that he had directed the termination of a $700 million contract for constructing power transmission lines. Additionally, Ruto ordered the cancellation of a procurement process to expand Jomo Kenyatta International Airport, which included a proposal from Adani Group. The move comes as Adani Group faces legal troubles in the United States. US prosecutors recently indicted Adani executives, including founder Gautam Adani, on charges of orchestrating a $265 million bribery scheme. The indictme...

How an indictment works in the US legal system & what comes next for Gautam Adani, others

21Nov

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Fashion

How an indictment works in the US legal system & what comes next for Gautam Adani, others

The indictment sparked a political slugfest in India, with the leader of the opposition demanding Adani’s arrest. Meanwhile, the BJP has countered by pointing out that all the states mentioned in the indictment as having accepted bribes were, at the time, governed by opposition parties.In the backdrop of this indictment, ThePrint takes a look at the indictment process in the US criminal justice system, what it means and what can be a possible outcome. Also read: How Gautam Adani’s business partners tried to place entire ‘bribery blame’ on him, nephew SagarWhat is an indictment? As per the criminal justice system, the process of indictment is the first step in commencement of criminal proceedings against any accused persons. It is an equivalent of a chargesheet in India, which lists out c...

21Nov

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Politics

Adani group tried to enter Delhi’s power sector but Kejriwal stopped them: AAP’s Sanjay Singh | India News – Times of India

NEW DELHI: The Adani group tried to enter Delhi's power sector but was stopped by then chief minister Arvind Kejriwal, AAP Rajya Sabha MP Sanjay Singh claimed Thursday and stressed the need for accountability after industrialist Gautam Adani was charged in the US for alleged bribery and fraud. The billionaire industrialist has been charged by US prosecutors for allegedly being part of a scheme to pay over $250 million (about Rs 2,100 crore) bribe to Indian officials in exchange of favourable terms for solar power contracts. This was concealed from the US banks and investors from whom the Adani group raised billions of dollars for the project, the prosecutors have alleged. The Adani group denied the charges, saying the allegations by US prosecutors are baseless and the conglomerate is compl...

21Nov

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Politics

‘Intimate nexus’: Congress reacts to US bribery allegations against Adani | India News – Times of India

NEW DELHI: The Congress on Thursday reiterated its demand for a Joint Parliamentary Committee (JPC) investigation into the transactions of the Adani Group, on the day US authorities charged Gautam Adani with bribery and fraud."The indictment of Gautam Adani and others by the Securities and Exchanges Commission (SEC) of the US vindicates the demand that the Indian National Congress has been making since Jan 2023 for a Joint Parliamentary Committee (JPC) investigation into the various Modani scams," Congress leader Jairam Ramesh said in a post on X."The INC had asked a hundred questions in its Hum Adani ke Hain (HAHK) series bringing out the various dimensions of these scams and of the intimate nexus that has existed between the PM and his favourite," he added.US authorities have charged Ada...