Adani, his nephew Sagar Adani, and another Adani Group executive were charged with securities fraud and conspiracy
Both the finance and foreign ministries had been asked to review infrastructure projects awarded to the Indian conglomerate
The summons requires an answer within 21 days, according to the filing dated Wednesday in federal court in the Eastern District of New York. The SEC suit seeks unspecified monetary penalties and restrictions on the Adanis from serving as officers of listed companies.
On Wednesday, Gautam Adani, one of the world's richest men, and seven others were indicted for fraud by US prosecutors over their alleged roles in a $265 million scheme to bribe Indian officials to secure power-supply deals.
It remains to be seen how the political impact of the US prosecutors’ charges against the Adani group plays out.
Several listed subsidiaries of the Adani empire collapsed in early trade, with some losing as much as 20 percent
Bangladesh is likely to set aside pricing concerns and retain a power purchase pact with India’s Adani Power, in the face of supply worries and gloomy prospects for a legal challenge, said two sources with direct knowledge of the matter.
Kenya's High Court has halted a controversial deal for Indian firm Adani to take over the country's main airport -- a decision hailed by critics on Tuesday as "a win for the Kenyan people"
Sri Lanka is entering into a 20-year agreement with Adani Group to buy electricity from a $442-million wind power plant being built
Adani Enterprises trades on a 12-month forward price-to-earnings multiple of 50 times, compared to 10 for Coal India, per LSEG data
After starting electricity supply to Bangladesh from the first unit of its plant in Godda in the eastern state of Jharkhand a few days ago, India's Adani Power Limited has said it is expected to commission its second 800 MW unit soon, according to the company statement
The overall cost for transmitting electricity from the Adani power plant in Godda, Jharkhand is set to increase further as two projects meant for that end are eyeing cost and time revisions.
The Daily Star contacted Adani Group for clarifications on certain aspects of the PPA and we are publishing the emailed comment from the Adani Group headquarters in Ahmedabad in India ad verbatim.
"It is a punishable offence to sign such a contract -- we believe that our agencies have the ability to identify the corruption in this deal"
India's Adani Group on Monday denied a media report that said the conglomerate was in talks with global credit funds to raise up to $400 million in debt against some of its Australian assets, calling it "totally false and untrue."
Gain is for Gautam Adani and loss for Bangladesh: that is how the electricity purchase deal with the Indian business tycoon may turn out to be
Sukirtharani, a poet from Tamil Nadu whose works of literature explore the lives of Dalit women in India, has refused to accept the Devi Award in a recent award ceremony.
