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assured shareholders
In the statement issued by Adani Group, it has been clearly stated that all these allegations are baseless. As the US Department of Justice itself states, indictments are merely allegations and those involved are presumed innocent until proven guilty. The group has said that every possible legal action will be taken. Also in the statement, shareholders were assured that Adani Group has always followed transparency and regulatory norms in all areas and will continue to do so. We assure our shareholders, partners and employees working in the group companies that we are a law abiding organisation, which fully complies with all laws.
What is the allegation against Gautam Adani?
First of all, talking about the allegations against Gautam Adani and his company in America, let us tell you that Gautam Adani is accused of allegedly paying 265 million dollars (about Rs 2236 crore) and transferring it to the American. Is. There is an allegation of hiding it from banks and investors. US prosecutors have claimed that other senior executives of the company agreed to make these payments to Indian officials to secure the contract.
According to the report, Adani Green Energy misled international investors and American banks, including the US, by offering bonds in 2021 on the basis of false statements and raised money from them. American lawyer Brian Pease says that a big plan was made to bribe government officials in India to get contracts worth billions of dollars. It is also being said that Gautam Adani has reportedly personally met government officials in this regard.
All stocks fell after America’s allegations
The news of investigation and serious allegations in America affected the stock market listed companies of Adani Group and all 10 shares fell heavily. At the time of writing, Adani Enterprises (20%), Adani Energy Solutions (20%), Adani Green Energy (19.17%), Adani Total Gas (18.14%), Adani Power (17.79%), Adani Ports (15%). , Ambuja Cements (14.99%), ACC Shares (14.54%), NDTV Shares (14.37%) and Adani Wilmar. Was trading down (10%). Adani Group has suffered a lump sum loss of Rs 1,000 crore due to this cut. There was a loss of more than Rs 2.2 lakh crore.
Which project is under investigation?
According to US prosecutors, Gautam Adani’s company won the contract to supply 12 gigawatts of solar power to state-owned Solar Energy Corporation of India (SECI). However, SECI could not find buyers to buy solar power in India and the deal could not go ahead without buyers. In such a situation, Adani Green Energy and Azure Power planned to bribe government officials. US prosecutors also said that code names were used to conceal their involvement throughout the manipulation.