The companies of billionaire Gautam Adani, one of Asia’s richest men, showed some signs of recovery on Friday even as controversy and uncertainty continued to roil the Indian tycoon’s businesses after he was indicted by U.S. prosecutors for bribery and fraud.
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India's opposition Congress party leader Rahul Gandhi, center, addresses the media on Indian businessman Gautam Adani, after Adani was indicted by U.S. prosecutors on charges he duped investors in a massive solar energy project in India, in New Delhi, India, Thursday, Nov. 21, 2024. Image behind shows Adani, on left with Indian Prime Minister Narendra Modi, on right.
The Adani group denied the allegations against directors of Adani Green Energy, its renewable energy arm, as “baseless” and said they will be seeking legal recourse. None of the people charged in the U.S. have been arrested. The latest controversy is likely to put Modi's Bharatiya Janata Party-led government, seen as close to Adani, in an awkward spot. Amit Malviya, the BJP's IT head, said in a post on X that the U.S. charges are “allegations and the defendants are presumed innocent unless and until proven guilty,” which critics interpreted as a show of support for the Adani group.
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India's Adani Group shares show some recovery despite uncertainty over US bribery and fraud chargesThe companies of billionaire Gautam Adani, one of Asia’s richest men, showed some signs of recovery on Friday even as controversy and uncertainty continued to roil the Indian tycoon’s businesses after he was indicted by U.S. prosecutors for bribery and fraud.
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Shares in India's Adani Group plunge 20% after US bribery, fraud indictmentsAsia’s controversial richest man, Indian tycoon Gautam Adani, is again in the spotlight.
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India's Adani Group shares show some recovery despite uncertainty over US bribery and fraud chargesThe companies of billionaire Gautam Adani, one of Asia’s richest men, showed some signs of recovery on Friday even as controversy and uncertainty continued to roil the Indian tycoon’s businesses after he was indicted by U.S. prosecutors for bribery and fraud.
Read more »
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