Reported about 10 hours ago
Adani Group has canceled a planned $600 million bond sale following charges against founder Gautam Adani for allegedly being involved in a bribery scheme aimed at securing solar energy contracts in India. The cancellation led to a sharp decline in the company's existing US-dollar notes, reflecting the ongoing risks tied to governance and regulatory scrutiny in emerging markets. This setback comes as Adani's group attempts to restore investor confidence after previous allegations of stock manipulation and accounting fraud.
Source: YAHOO