U.S. prosecutors have expanded their investigation into India's Adani Group, focusing on potential bribery and the actions of its billionaire founder, Gautam Adani. The probe, reported by Bloomberg, examines whether the conglomerate engaged in bribery. Adani Group's response to these allegations has been to deny any wrongdoing, labeling a U.S. investment research firm's earlier accusations of fraud and market manipulation as attempts to destabilize the company and defame the Indian government. Despite these denials, the news has negatively impacted Adani Group's financial standing, with several of its dollar bonds and shares experiencing significant declines, sending USD bonds to the lowest level in years (70-80c). This financial turmoil follows reports that the company and its affiliates have not received any formal notice from the Justice Department concerning the investigation. Meanwhile, JP Morgan has backed Adani, deeming it 'highly unlikely' that the company violated laws. Adani Green Energy, a subsidiary, acknowledged awareness of the U.S. probe into a third party but denied any direct involvement.
⚠️ INDIA'S ADANI GREEN SAYS AWARE OF US PROBE INTO THIRD PARTY, DENIES RELATIONSHIP Full Story → https://t.co/nHHglO9R5S India's Adani Green Energy said on Tuesday it is aware of a U.S. investigation into potential violations of anti-corruption laws by a "third party", but… https://t.co/BLb62ynbJ3
Adani Green has not received a notice from the US Department of Justice although it is aware that an investigation is underway for potential violations of American anti-corruption laws https://t.co/OsKOjHDZL9
Adani Green has not received a notice from the US Department of Justice although it is aware that an investigation is underway for potential violations of American anti-corruption laws https://t.co/ekdNin6cRO
'Highly Unlikely Bribes Involved' - JP Morgan Back Adani In Latest Row The brokerage firm said the Indian company, currently scrutinised by US prosecutors for allegedly bribing Indian officials, were "highly unlikely" to have broken the law. With the "high level of… https://t.co/6626W8AHdM
"False": Adani Group On Media Report Of US Probe Over Bribery Allegations https://t.co/RMnj2eNJI0 https://t.co/EkpwrhgoKv
Adani companies haven’t received any notice from the Justice Department regarding a probe into whether the Indian group may have engaged in bribery, according to exchange filings https://t.co/PsyVJsbTDC
Several of Adani Group’s dollar bonds and shares decline, after Bloomberg reported earlier that US prosecutors are investigating whether billionaire Gautam Adani and his group were involved in bribing officials in India https://t.co/8GFtbxOEuA
India Adani Group's dollar bonds, shares tumble on US probe report https://t.co/yL6b77MWIz https://t.co/ot2JzGZgBG
Several of Adani Group’s dollar bonds fall the most in more than half a year, after news that US prosecutors have widened their probe of the port-to-power conglomerate to focus on whether it may have engaged in bribery https://t.co/QLJj3SurM6
US probe into Adani to investigate bribery allegations, sending USD bonds to lowest level in years...(70-80c)
probably nothing US Probing Indian Billionaire Gautam Adani and His Group over Potential Bribery https://t.co/O3J2PtBwVt
The Adani Group, an India-based global business giant, has responded to a US investment research firm’s claim that the company was involved in fraud and market manipulation, calling the report an attempt to destabilize the enterprise and defame the government in New Delhi https://t.co/zeVvllhQWk
Embattled India billionaire Gautam Adani faces US probe involving bribery: report https://t.co/sFo2yCJwpU https://t.co/tCqkkYJaOG
US probing Adani Group and founder over potential bribery, Bloomberg reports https://t.co/rnF0RkoMax https://t.co/lxK5J0qXb3
⚠️ US PROBING ADANI GROUP AND FOUNDER OVER POTENTIAL BRIBERY, BLOOMBERG REPORTS Full Story → https://t.co/QtMgRn8mgX U.S. prosecutors have widened their probe of India's Adani Group to focus on whether the company may have engaged in bribery as well as the conduct of the…
US prosecutors widen their probe of India’s Adani Group to focus on whether the company may have engaged in bribery as well as the conduct of the company’s billionaire founder Gautam Adani https://t.co/MF8Idi9PcF via @business
US Probing Indian Billionaire Gautam Adani and His Group Over Potential Bribery via @business https://t.co/vKVLb2Wz99
US prosecutors widen their probe of India’s Adani Group to focus on whether the company may have engaged in bribery as well as the conduct of the company’s billionaire founder Gautam Adani https://t.co/gq3yHUUmzP
India’s Adani Group rejects US-based research about stock manipulation https://t.co/3pqB8Yf3Gc