Reported about 7 hours ago
Adani Group's CFO, Jugeshinder Singh, clarified that the recent US bribery indictment involving Gautam Adani is connected to only one contract from Adani Green Energy, which constitutes about 10% of its business. He asserted that none of the group's other 11 public companies are implicated in any wrongdoing. The indictment, accusing Adani of participating in a scheme to bribe Indian officials for power deals, has led to significant financial repercussions for the conglomerate, including falling stock prices and canceled deals. Singh emphasized that they had only recently received detailed information regarding the US charges.
Source: YAHOO