Adani Group(Adani power share price,Adani wilmar share price,Adani green share price,Adani enterprises share price,Adani port share price,Adani gas share price) comes in the list of big companies in India, but Adani Group is such a company that constantly remains in the headlines, sometimes with good news, sometimes with bad news, and today there is bad news, after which the shares of Adani Group are seeing a decline.
What is the setback that Adani Group has received from America?
This is a big problem for the Adani Group. In fact, if we look at the Hindenburg case that came in January 2023, then this is the biggest news, which seems to be having a very negative impact on them. The shares of the Adani Group are seen falling by 20–20 percent.
The New York Court of America has called Gautam Adani a bribe taker and fraudster, and the American officials have claimed that Gautam Adani and his 7 officials of his group companies have been accused of paying bribes of more than 25 crore dollars to the government officials of India. 265 million dollars have been given as bribes to government officials in India. Apart from this, he has been accused of cheating and misleading the American investors.
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The US stock market regulator is the Securities Exchange Commission, which we know as SEC. The allegations made by them are that the American investors were given wrong information for the money raised from them, and some information was also hidden from them. In a way, this is a fraud committed with the American investors, and along with that, the institutional investors from all over the world have also been cheated. Such allegations have been leveled against the Adani Group(Adani power share price,Adani wilmar share price,Adani green share price,Adani enterprises share price,Adani port share price,Adani gas share price).
SEC says that in order to get the contracts for the billion-dollar solar power plant, the bribes were given while releasing the government orders in India so that they could see that they were getting the orders. SEC also claims that his own Adani Group will benefit by 2 billion dollars, due to which he has given a bribe of more than 25 crore dollars.
Who are the people involved in this crime?
Apart from Gautam Adani, there are 6 other people involved in this crime, including Gautam Adani’s nephew Sagar Adani and other officials of Adani Green, and the names of the executive serial cabinet of Azore Power Global are also seen included in this list.
Why is New York’s decision considered important?
The decision is important because they are making a big investment and Adani Group has a huge focus on renewable energy. You must remember that when Trump won the election, Adani Group congratulated him and also discussed investing 10 billion dollars in the US. There too, they are focusing more on renewable energy projects. In that sense, if Gautam Adani is found guilty by the New York court, then you can understand how big a blow it can be for the Adani Group and how it can affect the growth and projects in the coming times.
Sagar Adani had recently talked about investing $35 billion. He had said that he would invest $35 billion in setting up solar, wind, and hybrid plants in the next 5 years.
When they are making big investments and raising huge money from investors, at such a time, this report has come out and they are being found guilty, and if we look at what will happen to their business, then there is a lot of worry among the investors.