New Delhi (Staff Correspondent), November 21: Adani Group’s Chairman Gautam Adani has been indicted in USA over a multi-billion-dollar fraud scheme.
The US attorney’s office in Brooklyn accused the executives of agreeing to pay hundreds of millions of dollars’ worth of bribes to Indian government officials between 2020 & 2024.
However, Adani Group has decided not to proceed with the proposed USD-denominated bond offerings
In a press release, Adani Green said, “The United States Department of Justice and the United States Securities and Exchange Commission have issued a criminal indictment and brought a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against our Board members, Gautam Adani and Sagar Adani. The United States Department of Justice have also included our Board member, Vneet Jaain, in such criminal indictment. In light of these developments, our subsidiaries have presently decided not to proceed with the proposed USD-denominated bond offerings.”
