Stock exchanges have sought clarification on violation of disclosure norms by Adani Group entities regarding the alleged bribery case in the US and subsequent cancellation of Kenya's airport expansion deal. In its response to the case in the US, Adani Group firms on Thursday had said "there are no allegations made against the company". On clarification with regard to Kenya cancelling airport expansion and energy deals following the US bribery and fraud indictments, the group is yet to respond to the bourses.
'Presumption of innocence must guide all formal actions, but transparency must not be mistaken for pre-judgment.' 'The cruel irony, however, is that Justice Varma is a fine judge who enjoys a reputation for writing well-reasoned judgments.'
With billionaire Gautam Adani charged in the United States with alleged bribery and fraud, the Congress on Thursday said it 'vindicates' its demand for a Joint Parliamentary Committee investigation into the various 'scams' involving his conglomerate.
An upcoming book by investigative journalist Chitra Subramaniam claims that senior Indian bureaucrats "tutored" Bofors officials in a secret meeting in 1987 on how to absolve then Prime Minister Rajiv Gandhi of all blame in the infamous bribery scandal. The book, "Boforsgate," details how the meeting was held to cover up the alleged Rs 64 crore bribe in a Rs 1,437 crore deal for Howitzer guns, and how Indian officials provided advice on concealing information from investigators. Subramaniam's revelations are based on documents provided to her by the Swedish head of police investigating the Bofors case.
Adani group stocks faced heavy drubbing during the early trade on Thursday, with Adani Energy and Adani Enterprises tumbling 20 per cent, as billionaire Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay $250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. The stock of the group's flagship firm Adani Enterprises plunged 20 per cent, Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 19.17 per cent, Adani Total Gas tumbled 18.14 per cent, Adani Power slumped 17.79 per cent, and Adani Ports dived 15 per cent on the BSE.
Earlier on Thursday, Kejriwal accused the BJP of attempting to poach 16 AAP candidates ahead of the Delhi assembly polls results.
Congress leader Rahul Gandhi criticized Prime Minister Narendra Modi for his response to questions about the Adani Group controversy during his US visit. Gandhi alleged that Modi downplayed the issue as a 'personal matter' and did not raise it with US President Donald Trump. Gandhi argued that the controversy is a 'matter of the country' and should not be ignored by the Prime Minister.
Former Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has strongly refuted allegations of bribery by the Adani Group for solar power purchases during his government. He claimed his name was not mentioned in a US court's indictment and that meetings with Adani Group chairman Gautam Adani were not unusual for a chief minister. Reddy said the power supply agreement was between the state's DISCOMs and SECI, with no third-party involvement. He also defended the deal, calling it 'historic' and highlighting the cost savings for the state. Meanwhile, former CM N Chandrababu Naidu has alleged irregularities in the deal and promised to act upon the alleged charges.
Bharatiya Janata Party MP Nishikant Dubey on Sunday accused Trinamool Congress's Mahua Moitra of taking 'bribes' from a businessman to ask questions in Parliament and urged Lok Sabha Speaker Om Birla to constitute an 'inquiry committee' to look into the charges against her.
Adani group founder and chairman Gautam Adani and his nephew Sagar have been summoned to explain their stand on the US Securities and Exchange Commission (SEC) allegation of paying $265 million (Rs 2,200 crore) in bribes to secure lucrative solar power contracts. Summons have been sent to Adani's Shantivan Farm residence in Ahmedabad and his nephew Sagar's Bodakdev residence in the same city for a reply to SEC within 21 days.
Challenging the decision of the Biden Administration to investigate the activities of Indian billionaire Gautam Adani and his companies, an influential Republican lawmaker on Tuesday said such selective actions risk damaging critical alliance partners.
Moody's Ratings on Thursday said it will look at Adani group's governance practices when assessing the ports-to-energy conglomerate's ability to access capital in the aftermath of indictment of the group head Gautam Adani on bribery charges. "The indictment of Adani Group's chairman and other senior officials on bribery charges is credit negative for the group's companies," Moody's Ratings said in a statement.
Amid opposition call for his resignation over the Beed sarpanch murder case, Maharashtra minister Dhananjay Munde on Wednesday said he is ready to quit if asked by Chief Minister Devendra Fadnavis or deputy CM Ajit Pawar.
With the US filing civil and criminal charges against billionaire Gautam Adani and seven others over a multi-million-dollar bribery scheme, a prominent attorney here has said that the case could escalate significantly, potentially leading to arrest warrants and even extradition attempts. Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion in profit over 20 years.
Leader of Opposition Rahul Gandhi on Thursday demanded immediate arrest of industrialist Gautam Adani after the billionaire industrialist was charged in the United States for alleged bribery and fraud.
'What I will say is on the US and India relationship, we believe that it stands on an extremely strong foundation anchored in ties between our people and cooperation across a full range of global issues.'
State Bank of India, NTPC, ITC, Asian Paints, Bajaj Finance and Bajaj Finserv were also among the major laggards. In contrast, Power Grid, UltraTech Cement, HCL Technologies and Axis Bank were among the gainers.
The United States on Saturday rejected the Bharatiya Janata Party's allegations that organisations funded by the US State Department and elements in the American 'deep state' were behind attempts to destabilise India through targeted attacks on Prime Minister Narendra Modi and business tycoon Gautam Adani.
Delhi faces a severe financial crunch and the deficit is largely due to numerous welfare schemes without adequate revenue flowing in. The success of welfare schemes and electoral promises will need careful financial planning and out of the box thinking to whip up additional revenue, notes Ramesh Menon.
None of Adani group portfolio companies, comprising 11 listed firms, have been accused of any wrongdoing, conglomerate's CFO Jugeshinder Robbie Singh said on founder and chairman Gautam Adani's indictment on bribery charges in the US. In a post on X, Singh said the group would make a detailed comment on the US indictment once it gets counsel approvals.
Both Houses of Parliament were adjourned for the day after repeated disruptions amid uproarious scenes as members of treasury and opposition benches traded charges on the Soros and Adani issues.
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, on Thursday scrapped a Rs 600 million bond issue after its promoter was charged in an alleged bribery case in the US. Hours before the US prosecutors charged Gautam Adani and associates with participating in a scheme to pay over Rs 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, the firm sold a 20-year green bond in the US-investment-grade market.
The Central Bureau of Investigation on Friday conducted searches at the premises of former Narcotics Control Bureau officer Sameer Wankhede after filing an FIR against him and four others for allegedly seeking Rs 25 crore bribe for not framing Shah Rukh Khan's son Aryan Khan in the drugs-on-cruise case, officials said.
What India needs more than one simultaneous election is better governance both at the central and state level. Yes, we need reforms, but our priority should be to make elections less expensive, make it more democratic, do away with freebies which are actually bribes before elections, allow only those who are educated to contest, and bring in a bill to make it impossible for criminals to contest, advocates Ramesh Menon.
'The present generation, either due to historical amnesia or political propaganda, has been fed a narrative that paints India as an adversary rather than an ally.'
Israeli Prime Minister Benjamin Netanyahu struck a defiant tone as he testified in open court for the first time in Tel Aviv in his years-long corruption trial on Sunday.
On Thursday, September 28, 2023, Tamil star Vishal Krishna opened a Pandora's box by releasing a video where he alleges that a staffer at the Central Board Of Film Certification in Mumbai allegedly asked him for Rs 650,000 before issuing a censor certificate for the Hindi version of his Tamil blockbuster Mark Antony.
Senior Congress leader Shashi Tharoor has criticized the BJP for its allegations that elements in the American "deep state" were behind attempts to destabilize India, saying this "attack-dog" behavior is an embarrassment to India. Tharoor's comments come after the US rejected the BJP's allegations, describing them as "disappointing" and asserting that the US government is a champion of media freedom. The BJP had alleged that the US deep state colluded with the media portal OCCRP and Congress leader Rahul Gandhi to "damage" India's image.
Karnataka BJP President B Y Vijayendra on Thursday challenged Chief Minister Siddaramaiah to disclose the source of his allegation that Rs 50 crore bribe each was offered to 50 Congress MLAs to topple the government. He said the Chief Minister has lost faith in his own MLAs and, hence, was levelling false allegations.
Billionaire Gautam Adani's group has pulled out of a loan deal with a US agency to fund a port terminal in Sri Lanka, saying it will use its own resources for the project. In an exchange filing late on Tuesday, Adani Ports and Special Economic Zone Ltd (APSEZ) said the project "is on track for commissioning by early next year". "The project will be financed through the company's internal accruals and capital management plan," the firm said.
We do not whistle for Hathiram Chaudhary. And yet the bond we feel towards him is spontaneous, almost effortless. This is because he shares something of our too-ideal dreams, our wry acceptance of our limitations, our useful frustrations, and our pointless sprints, explains Sreehari Nair.
Abu Dhabi's International Holding Company (IHC), one of the largest sovereign funds that manages assets close to $100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate's founder chairman Gautam Adani. "Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC, one of Adani group's key foreign investors, said in a statement.
The Supreme Court on Tuesday appointed senior advocate P S Patwalia as amicus curiae to assist it in examining whether an MP or MLA can claim immunity from criminal prosecution for taking a bribe to make a speech or vote in the legislative assembly or Parliament.
The incident came to light on Monday after a Gopal Khari, who stated that he is associated with the AAP as an active worker since 2014, approached the ACB with the complaint, according to an official statement on Wednesday.
The Bharatiya Janata Party (BJP) has alleged that former Congress president Sonia Gandhi has links to an organisation financed by the George Soros Foundation, which has reportedly supported the idea of an independent Kashmir. The party claims this connection demonstrates foreign influence in Indian internal affairs. This comes after BJP's claims of US involvement in destabilizing India, which the US has denied. The BJP also accused Congress leader Rahul Gandhi of collaborating with the Soros-funded OCCRP to damage India's economy and reputation. The allegations have drawn criticism from the US embassy and the opposition Congress.
Deputy Commissioner of Police (DCP), Whitefield, Shivakumar on Tuesday confirmed that Bengaluru-based techie Atul Subhash died by suicide in the early hours of December 9 following harassment from his wife and her family.
Though a settlement will provide respite from a long legal battle, legal experts say it may create a perception of guilt.
Chandrashekhar, in one of his letters, had also alleged that he had met AAP national convener and Delhi Chief Minister Arvind Kejriwal and that he was asked to arrange Rs 500 crore for AAP's expansion in southern states.
Leader of Opposition Rahul Gandhi on Thursday demanded immediate arrest of industrialist Gautam Adani after the billionaire industrialist was charged in the United States for alleged bribery and fraud.
Bharatiya Janata Party leader Kirit Somaiya on Sunday alleged that ad firm director Bhavesh Bhinde had paid Rs 46 lakh as bribe to a company of the wife of then GRP commissioner, who gave permission to install a hoarding which collapsed in Mumbai last month.
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