The bribery allegations involving business tycoon Gautam Adani and Andhra Pradesh former Chief Minister Jagan Mohan Reddy, amounting to Rs 1750 crores, have led to widespread criticism, especially from Jagan's own sister, YS Sharmila. Sharmila has raised suspicions about her brother's involvement in the scandal, which was highlighted by the U.S. Department of Justice. Sharmila challenged Jagan's responses to the allegations, accusing him of evading questions regarding th

Norwegian diplomat and former UN Environment Programme Executive Director Erik Solheim has strongly criticized the US government's recent report regarding the Adani Group, calling it a case of "American overreach." The report alleges that certain individuals linked to the Adani Group discussed bribes to secure solar energy contracts in India, but Solheim pointed out that the allegations lack evidence of actual bribe payments or involvement from the Adani Group’s top leader

The Adani Group has responded strongly to recent media reports alleging bribery and corruption charges against its top executives, including Chairman Gautam Adani, his nephew Sagar Adani, and senior executive Vneet Jaain. According to the group's statement, neither Gautam Adani, Sagar Adani, nor Vneet Jaain have been charged with any violation of the US Foreign Corrupt Practices Act (FCPA), as claimed in recent news articles. The US Department of Justice (DOJ) indictment contain

A major legal battle is unfolding as Gautam Adani, the Indian business magnate, and several of his associates face a $265 million bribery charge in the United States. This indictment, which also implicates his nephew Sagar Adani and executives from an Indian renewable-energy company, is raising significant questions about the extraterritorial application of US laws, especially since those involved do not reside in the US. Prominent Indian-American attorney Ravi Batra highlighted the

The ongoing feud between YS Sharmila and her brother, YS Jagan Mohan Reddy, has escalated with Sharmila demanding a CBI investigation into the controversial Rs 1750 crore bribery scandal involving Jagan and industrialist Gautam Adani. In a public letter, Sharmila accused Jagan of signing a dubious power distribution deal with Adani, which she claims would burden the people of Andhra Pradesh with Rs 1.5 lakh crore over the next five years. She urged CM Chandrababu Naidu to cance

In a bold move, Telangana Chief Minister Revanth Reddy has announced that the state government will not accept a ₹100 crore donation from industrialist Gautam Adani to the Young India Skill University. This decision comes in light of the ongoing controversies surrounding Adani, including allegations of corruption and a case filed against him in the United States. The industrialist is also accused of bribing state Chief Ministers, including Andhra Pradesh’s former CM Jagan Mohan Reddy.

The Adani Group reported a record financial performance in the first half of the ongoing financial year and for the trailing twelve months, driven by its growing businesses in infrastructure, energy, and renewables. The group's net exposure to Indian banks stands at $11 billion, with equity now accounting for 63% of its total debt. This marks a reduction in the conglomerate's reliance on debt. The strong growth in the first half was fueled by Adani Enterprises' solar and

Indian stock markets saw a strong rally this morning, buoyed by the BJP-led NDA's massive victory in the Maharashtra assembly elections, which is home to Mumbai, the financial capital of India. The BSE Sensex opened at 80,193.47 points and surged by about 1,300 points by 11 am, while the Nifty 50 gained more than 346.30 points to open at 24,253.55 points. This follows a strong session on Friday where both indices saw their best performance since early June. All 13 major sectors

Kanwal Sibal, the former Foreign Secretary of India, has strongly criticized a report from a US government department regarding the Adani Group, describing it as a violation of India's sovereignty. Sibal condemned the US for overstepping its bounds, arguing that any investigation conducted on Indian soil by US authorities would breach Indian law. He emphasized that if the US had evidence of illegal activity, it should have shared its findings with Indian authorities instead of taking unil

In a major setback for Indian billionaire Gautam Adani, the founder of the Adani Group, and seven others have been indicted in the United States for their involvement in a multibillion-dollar bribery and fraud scheme. The charges allege that the Adani Group bribed Indian officials, particularly in Andhra Pradesh, to secure lucrative solar energy contracts, while defrauding US investors and financial institutions to gain funds. The indictment reveals that Gautam Adani, along with his

Adani Enterprises Ltd. (AEL) reported a substantial 664% increase in its consolidated net profit for the September quarter, reaching ₹1,742 crore, compared to ₹228 crore in the same period last year. The company’s revenue from operations also rose by 16%, totaling ₹22,608 crore, up from ₹19,546 crore in the previous year. Stock Performance and Metrics Following the earnings announcement, shares of Adani Enterprises rose by 2% to ₹2,849. The

The ambitious rebuilding of the Amaravati capital project has resumed after a five-year hiatus, fueled by the renewed leadership of Chandrababu Naidu under the NDA government. With significant financial backing, the project is set to gain momentum once again. Chandrababu has successfully secured Rs 15,000 crore in financing through the World Bank and an additional Rs 11,000 crore from HUDCO. In a significant development, the deep-pocketed Adani Group has also come on board to bolste

Adani Enterprises Ltd. is making significant strides in the retail sector with its recent acquisition of a 74% stake in Cococart Ventures Pvt. (CVPL) through its subsidiary, April Moon Retail Pvt. Ltd. This strategic move, valued at Rs 200 crore, is part of Adani's broader efforts to enhance its presence in the competitive Indian retail market. On Friday, the company executed multiple agreements, including a share purchase agreement, a joint venture agreement, and a share subscr

Adani Total Gas Ltd. (ATGL) announced on Friday that it has successfully secured $375 million in funding from international lenders to expand its city gas distribution (CGD) network. This financing marks the largest global investment in the CGD sector, underscoring the growing importance of natural gas in India's energy landscape. The funds will enable ATGL to extend its services to over 200 million people, representing approximately 14% of India's population. The financing