Billionaire Gautam Adani has been charged by US prosecutors for allegedly being part of an elaborate scheme to pay USD 265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for favorable terms for solar power contracts.
The bombshell allegations, which Adani group denied saying it is innocent until proven guilty, may have a widespread fallout ranging from reputational risk to the conglomerate, inability to raise funds from the US market and the billionaire being forced to restrict his overseas travels to opening a political Pandora's box that will give the Opposition another tool to target the government just as Parliament meets for the winter session, starting Monday.
Adani, India's second-richest man, and seven others, including his nephew Sagar, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than USD 2 billion in profit over 20 years.
Prosecutors said the US started an investigation in 2022. They alleged that the group raised USD 2 billion in loans and bonds, including from US firms, on the backs of false and misleading statements related to the firm's anti-bribery practices and policies as well as reports of the bribery probe.
Diese Geschichte stammt aus der November 22, 2024-Ausgabe von The Daily Guardian.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der November 22, 2024-Ausgabe von The Daily Guardian.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Bihar to host Khelo India Youth Games in April
Bibar is an integral part of the Ministry’s plans to develop infrastructure and provide support to athletes from the grassroots level.
Eden Gardens to name stand after Jhulan Goswami
The iconic Eden Gardens will soon have a stand named after India legend Jhulan Goswami.
Former Pak off- spinner Nazir who gave torrid time to Richards dies
Former Pakistan cricketer and umpire, Muhammad Nazir junior passed away in his hometown of Lahore on Thursday after prolonged illness. He was 78.
Lakshya sails into quarters, Sindhu exits from China Masters
Star Indian shuttler Lakshya Sen progressed to the quarterlinals with a straight-game win, but two-time Olympic medallist PV Sindhu's campaign ended in the second round of the China Masters Super 750 badminton tournament here on Thursday.
Cummins confident ahead of Perth test
Australia captain Pat Cummins exuded confidence in his side's preparations and brushed away concerns of going against new faces in the Indian camp because of a sense of \"familiarity\".
ROHIT TO JOIN INDIA SQUAD ON SUNDAY
Despite being in a race against time, Rohit was in contention to take the flight to Australia and feature in thefirst Test.
Bumrah backs young guns to take on Australia
Ahead of the first Test against Australia of the highly-anticipated Border-Gavaskar Trophy at Perth, Indian skipper Jasprit Bumrah lauded the youngsters in the team for their self-belief and confidence, saying that nothing is more heartening than the fact that they want to do the tough job for the team.
PCB names COO for Champions Trophy
\"Preparations are already well underway, with stadium upgrades nearing completion and crucial discussions ongoing with the International Cricket Council.
MAGIC OF MIND- A GREAT GIFT TO MANKIND BY AUTHOR RAVI VALLURI
Psychologists have explained the phenomena of mind in many ways. For spiritual practitioners, it remains the subject of one of their primary concerns.
Bihar to host Khelo India Youth Games in April
Bihar is an integral part of the Ministry 's plans to develop infrastructure anel provide support to athletes from the grassroots level.
