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Did Gautam Adani get worried again? All shares of the group slipped below the red mark after the company issued a statement on the corruption probe

A worrying situation has arisen for Adani again. Shares of all Gautam Adani companies closed below the red mark on Tuesday. Companies belonging to tycoon Gautam Adani's group have refused to participate in an investigation into possible violations of US anti-corruption laws.
2 Month ago

A worrying situation has arisen for Adani again. Shares of all Gautam Adani companies closed below the red mark on Tuesday. Companies belonging to tycoon Gautam Adani's group have refused to participate in an investigation into possible violations of US antitrust laws.

No notice received from US Justice Department: Adani

Group company Adani Green has said it has not received any notice from the US Justice Department. The company said it is aware of a third-party investigation into possible violations of United States anti-corruption laws. Not only this, the company has also clarified that it has nothing to do with this third party. This statement by the Adani Group company comes at a time when a media report recently claimed a huge bribe in a power project in India.

Bloomberg reported that the US has expanded its probe into India's Adani Group to find out whether company founder Gautam Adani and the company are involved in bribery.

Shares of all Gautam Adani companies closed below the red mark

The company stated that the report was false

Following the report, 10 listed companies of the Adani group have distanced themselves from the bribery allegations in their separate filings. He also said that the news that a notice has been given by the US Justice Department in this matter is also false.

It may be noted that several media reports said that Adani group entities were possibly involved in paying officials in India in energy projects. After this, reports said that US prosecutors have widened the scope of their investigation in this regard. Prosecutors are probing whether people associated with any Adani Group entity or company, including Gautam Adani, made payments to officials in India for energy projects.

We are not aware of the investigation: Adani Group

According to the report, the US Attorney's Office for the Eastern District of New York and the Justice Department's Fraud Unit in Washington are investigating. Along with this, Indian renewable energy company Azure Power Global is also being monitored. "We are not aware of any investigation against our chairman," Adani Group told Bloomberg News on the matter.

Adani Group shares and bonds saw a massive sell-off early last year. At the time, American short-seller Hindenburg Research issued a report accusing the group of using false accounts, manipulating stocks and using tax havens. However, the Indian company has denied these allegations.

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