By:- B.T Team

Image Credit:- Google

$250mn Bribes Revealed

Indian billionaire Gautam Adani faces US charges over a $250mn bribery scheme tied to solar power contracts.

Adani Group in Trouble

US prosecutors allege $250mn in bribes to Indian officials for favorable solar power deals between 2020-2024.

Bribery Allegations

Adani's Indictment

Gautam Adani, his nephew Sagar Adani, and seven others charged with securities fraud and bribery.

Impact on Investors

Allegations include misleading US investors while raising billions through bonds for Adani Green projects.

Adani Enterprises shares plummet 10% as news shakes investor confidence across the conglomerate.

Stock Market Fallout

Evidence Unveiled

Prosecutors cite incriminating mobile data, PowerPoints, and Excel sheets detailing the bribery scheme.

Global Implications

Adani Green suspends a $600mn bond sale amidst the controversy, affecting its global renewable energy plans.

Political Connections

Rahul Gandhi and opposition call for a deeper probe into Adani’s ties with Indian government officials.

Adani Group’s Response

The group denies wrongdoing, emphasizing cooperation with investigations while battling past Hindenburg allegations.

The bribery charges threaten to reignite a major PR crisis, tarnishing Adani Group’s global ambitions.

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