Gautam Adani group

2024 - 11 - 27

Adani Group Clears the Air: No Bribery Charges and Shares Soar!

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The Adani Group reaffirms Gautam Adani's innocence as shares soar amidst rumor chaos!

In a recent whirlwind of controversy, the Adani Group has put speculation to rest by clarifying that billionaire Gautam Adani and his nephew, Sagar Adani, have not been charged with bribery in the United States. Amid the ongoing scrutiny from US authorities, the company emphasized there are no violations under the US Foreign Corrupt Practices Act (FCPA). This announcement comes as a breath of fresh air for those within the group and their investors, given the backdrop of recent US indictments that had raised eyebrows worldwide.

Despite facing a downgrade in outlook from global rating agency Moody's for seven of its entities, including Adani Green Energy, the Adani Group enjoyed a stunning market cap recovery, surpassing Rs 1 lakh crore following the clarifying statement. A surge in shares was evident across the board, with Adani Power closing 20% higher and Adani Total Gas climbing nearly 20% in a matter of hours. Investors seemed unfazed by the downgrades, instead rallying behind the group amidst all the turmoil.

Legal experts, including former Attorney General Mukul Rohatgi, have decoded the situation surrounding the indictments, noting that the charges do not explicitly mention Gautam or Sagar Adani. This perspective brings to light the importance of legal interpretations during high-stakes corporate matters. The share market responded with vigor, reflecting a strong confidence boost among investors, as many saw it as an opportunity to buy into a company which has historically been resilient.

In conclusion, while the Adani Group continues to manage a mix of challenges and uncertainties, investor confidence remains unshaken. The rapid surge in market capitalization showcases the group's undeniable staying power in the Indian economy. Did you know that Gautam Adani founded the Adani Group in 1988 and it has since expanded into sectors ranging from logistics to renewable energy? Or that the company is among India’s largest renewable energy producers? With such impressive capabilities, the future seems bright for the Adani Group!

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Image courtesy of "The Hindu BusinessLine"

Adani Group clarifies no bribery charges against Gautam Adani ... (The Hindu BusinessLine)

US authorities' indictment, the Adani group has clarified that there are no bribery charges against billionaire Gautam Adani, his nephew Sagar Adani, ...

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Image courtesy of "Business Today"

Adani Group market cap recovers over Rs 1 lakh crore. Here's what ... (Business Today)

The rally came despite global rating agency Moody's on Tuesday downgrading its outlook for seven Adani Group entities, including Adani Green Energy, ...

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Image courtesy of "Onmanorama"

Gautam Adani not facing bribery charges in US, says his firm (Onmanorama)

No cases regiatered against Adani under US Foreign Corrupt Practices Act (FCPA)..Adani, US indictment against Adani, bribery charges against adani in US, ...

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Image courtesy of "Business Standard"

'Corrupt Solar Project': Adani embroiled in US findings of bribery ... (Business Standard)

US prosecutors charged Gautam Adani, his nephew Sagar Adani who is director at Adani Green, and six others in running an alleged bribery scheme.

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Image courtesy of "Millennium Post"

Adani Group refutes bribery charges on Gautam Adani amid US ... (Millennium Post)

New Delhi: Embattled billionaire Gautam Adani and his aides have not been charged under the US Foreign Corrupt Practices Act, an Adani Group entity said on ...

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Image courtesy of "DNA India"

Gautam Adani companies' market cap surge by Rs 1.24 lakh crore in ... (DNA India)

Gautam Adani and his aides have not been charged under the US Foreign Corrupt Practices Act, an Adani Group entity said.

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Image courtesy of "India Today"

Adani Group shares rally after clarification on US bribery charges. Is ... (India Today)

Adani Power shares closed 20% higher at Rs 525.30, Adani Total Gas gained 19.76% to Rs 694.25, and Adani Enterprises rose 11.56% to Rs 2398.35.

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Image courtesy of "Business Standard"

Gautam Adani, Sagar not charged with violation of FCPA of US ... (Business Standard)

The Department of Justice (DoJ) indictment, which has five counts or charges, does not have any mention of Chairman Gautam Adani, Executive Director Sagar Adani ...

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Image courtesy of "ET Now"

Adani Group Case: Senior lawyers Mukul Rohatgi, Mahesh ... (ET Now)

Mukul Rohatgi, Former Attorney General decoded the Gautam Adani-indictment case in US. He had been appearing for Adani Group in several cases. Jethmalani ...

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Image courtesy of "Moneylife"

Adani Group Shares Rally After Claims About FCPA Charges (Moneylife)

Shares of all Adani group companies rallied during the morning trade on Wednesday, with Adani Energy India Ltd (AEIL) climbing nearly 8%, bouncing back from ...

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Image courtesy of "Times of India"

No FCPA violation charge on Gautam, Sagar Adani: Group co (Times of India)

India Business News: MUMBAI/NEW DELHI: Adani Green Energy said Wednesday that Gautam Adani, Sagar Adani and Vneet Jaain have not been charged with any ...

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Image courtesy of "Reuters"

Major fallout for India's Adani Group after U.S. bribery indictment (Reuters)

Some nations and investors have either scrapped deals or halted investments in the Adani Group, after the United States indicted its billionaire chairman ...

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Image courtesy of "Livemint"

Adani 'bribery' case: Can Adani be arrested from India? Allegations ... (Livemint)

Gautam Adani was charged for allegedly conspiring to pay about $265 million in bribes to Indian government officials to obtain contracts and develop India's ...

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Image courtesy of "DNA India"

Gautam Adani indictment row: Adani Group firms surge; Adani Total ... (DNA India)

Adani Power, Adani Energy Solutions, Adani Green Energy and Adani Total Gas also hit their upper circuit limits during the day.

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Image courtesy of "Economic Times"

Adani stocks in focus after group clarifies on bribery charges against ... (Economic Times)

The Adani Group clarified that its executives, including Gautam Adani, were not indicted on bribery charges by US authorities but on securities fraud.

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Image courtesy of "The Hindu"

Abu Dhabi's IHC says its outlook on Adani Group investments is ... (The Hindu)

IHC maintains confidence in Adani Group amid U.S. indictment, emphasizing investments in green energy and sustainability sectors.

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Image courtesy of "ABP Live"

IHC Maintains Confidence In Adani Group Despite US Indictment Of ... (ABP Live)

Last week, US prosecutors accused Adani, his nephew and executive director IHCof allegedly orchestrating a $265 million bribery scheme to secure Indian ...

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Image courtesy of "Livemint"

After GQG, Abu Dhabi's IHC backs Adani over US indictment ... (Livemint)

International Holding Company, which is listed on the Abu Dhabi Securities Exchange, is the third-largest foreign investor in Adani, having put in $2.5 ...

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Image courtesy of "Economic Times"

Airports to cooking oil: The many businesses of Gautam Adani - The ... (Economic Times)

Indian conglomerate Adani Group, led by billionaire Gautam Adani, faces US accusations of a $265 million bribery scheme related to Indian power contracts.

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