Adani Indicted in US for Bribery, Fraud

Gautam Adani and several executives from the Adani Group have been indicted by US prosecutors on charges of bribery and fraud, accused of paying $265 million in bribes to secure solar energy contracts in India. The allegations have been denied by the Adani Group, which calls them 'baseless' and is seeking legal recourse. The charges have caused significant financial repercussions, with Adani Group's shares plummeting and Adani Green Energy withdrawing a $600 million bond offering. The indictment claims the bribes were aimed at Indian government officials to secure lucrative contracts, potentially yielding $2 billion in profits. The case also revives scrutiny on past accusations against the group, including stock manipulation and accounting fraud. The unfolding legal situation could impact the Adani Group's future ability to access international capital markets.