The Securities Exchange Board of India (SEBI) can now investigate the Adani Group for providing incorrect information and misleading investors. Market regulator SEBI will investigate whether the Group has violated the mandatory rules for disclosure of information about market activities.
According to a Bloomberg report, SEBI has asked stock exchange officials whether the Green Energy Limited has failed to properly disclose the US Justice Department’s investigation into bribery allegations.
SEBI may investigate the matter for two weeks
The report indicates that the fact-finding team will continue its process for two weeks, after which SEBI will decide whether to initiate a formal investigation. SEBI has previously investigated the Group for matters such as disclosure norms. Researchers have not disclosed the findings yet.
Adani was accused of bribery and fraud in America
On Thursday, authorities accused Indian industrialist Gautam Adani of bribery and fraud to secure a solar energy contract in America. The Federal Court of New York registered the case, and they issued an arrest warrant for Gautam and his nephew, Sagar Adani.
After this news came, his net worth decreased by Rs 1.02 lakh crore. At the same time, Kenya canceled the deal of power transmission and airport expansion with the Group. Both the deals were worth Rs 21,422 crore.
Today 6 out of 10 shares of Adani Group rose
Today 6 out of 10 shares of Group rose. Earlier on Thursday, 9 out of 10 shares of Group fell.
America alleges – 2200 crore bribe offered to Indian officials
In America, authorities have accused 8 people, including industrialist Gautam Adani, of committing fraud worth billions of rupees. The United States Attorney’s Office says that was planning to pay a bribe of $265 million to Indian officials to get a solar energy contract in India.
This whole matter is related to Adani Group company Adani Green Energy Limited and another firm. The Federal Court of New York registered this case on 24 October 2024. During the hearing on Wednesday, prosecutors accused Gautam Adani, his nephew Sagar Adani, Vineet S Jain, Ranjit Gupta, Cyril Cabanis, Saurabh Agarwal, Deepak Malhotra, and Rupesh Agarwal.
It is unclear whether Gautam or Sagar Adani will appear in the US court, as they can attempt to dismiss the charges against them without being present in court. A spokesperson for US Attorney Brion Peace in Brooklyn said that it is not clear in which country Gautam Adani lives. No accused has been taken into custody yet.
Adani said – all the allegations are baseless, we deny them.
Adani Group has called all the allegations baseless. The group said – ‘The allegations leveled by the United States Department of Justice and the United States Securities and Exchange Commission against the directors of Adani Green Energy Limited are baseless. We deny them.
After the allegations against the Adani Group in the US, the Kenyan government has announced the cancellation of all deals with them. These included big projects like power transmission and airport expansion.
President William Ruto said – ‘Our government works on the principles of transparency and honesty and will not approve such agreements which are against the image and interests of the country. We will not accept any such contract which is against the policies and values of our country.’
The Kenyan government had signed a power transmission deal of $ 736 million i.e. Rs 6,217 crore for 30 years.Under this deal, they were to create infrastructure for power transmission in Kenya.Apart from this, Adani Group also had a proposal of $1.8 billion i.e. Rs 15,205 crore. The authorities planned to develop an international airport, but they have now canceled both deals worth Rs 21,422 crore.
