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The financial repercussions of Parliament disruptions are considerable, impacting both public resources and the productivity of the nation's legislative process. However, both the Lok Sabha and Rajya Sabha have cumulatively functioned for merely 2 hours, with daily disruptions and sloganeering resulting in adjournments. The Rajya Sabha faced disruptions today (December 2) as Vice Chairman Jagdeep Dhankhar expressed discontent over sloganeering by Opposition MPs. The protests, which centered ar ...Read More >
A sustained buying in Adani Group stocks during the last 3 trading sessions has erased most of the losses for its investors. The combined market capitalization of all 11 listed Adani stocks was at Rs 1.37 lakh crore in the afternoon and needs a rally of another Rs 60,000 crore to erase all the loss that investors suffered on November 21. After the United States Department of Justice and the US Securities and Exchange Commission (SEC) issued an indictment and a civil complaint, respectively, in ...Read More >
NEW DELHI: Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital ...Read More >
Ahead of the fifth day of the Parliament winter session, Congress MP Manickam Tagore filed an adjournment notice in Lok Sabha on Friday (November 29, 2024) to discuss the Gautam Adani indictment in the lower house. Opposition MPs have repeatedly sought to discuss the Adani indictment in the Lok Sabha since the start of the winter session on November 25. Justifying the public adjournment motion in the letter submitted to the Lok Sabha Secretary General, Mr. Tagore wrote that the issue is of "pu ...Read More >
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New Delhi: Both houses of the parliament were suspended temporarily on Thursday within minutes of opening as opposition lawmakers disrupted proceedings for the third day this week seeking a discussion on allegations against the Adani Group. U.S. authorities have accused Gautam Adani, his nephew Sagar Adani and managing director of Adani Green, Vneet S. Jaain, of being part of a scheme to pay bribes of $265 million to secure Indian solar power supply contracts, and misleading U.S. investors du ...Read More >
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The diplomacy in a fast-paced world revolves around the law of conservation of power. By power here I mean sources of energy which can drive moving objects at their utmost speeds. In the last 100 years, fossil fuels have changed the face of the Arab World. Now that the world is moving away from fossil fuels, there is a renewed competition to grab the first movers advantage. This intense competition will see diplomacy at its absolute ruthlessness, business wars in extreme forms, and manhandling o ...Read More >
Indian billionaire Gautam Adani faces U.S. charges in a $265 million bribery scheme, shaking his conglomerate. The Adani Group denies wrongdoing, while Indian politics and global finance react. Allegations involve market disclosure issues and economic fallout, including halts on projects and investments worldwide. Indian billionaire Gautam Adani's indictment by U.S. authorities has sent shockwaves through his vast business conglomerate. The Adani Group, denying all allegations, faces scrutiny o ...Read More >
Adani Group's two stocks have been put under the first stage of the long-term additional surveillance measures (ASM) on the Bombay Stock Exchange (BSE) after the recent US indictment of Chairman Gautam Adani and others on alleged bribery charges. Adani was allegedly indicted in New York, US, over his role in the multibillion-dollar bribery and fraud scheme. According to US authorities, the chairman of the ports-to-power conglomerate and seven other defendants agreed to pay Indian officials over ...Read More >
New Delhi, November 27 (IANS): Former Attorney General and Senior Counsel Mukul Rohatgi on Wednesday criticised the indictment by a US court alleging bribery charges against the Adani Group, describing it as "completely silent" and lacking specifics. His comments followed a recent filing by Adani Green Energy Ltd. (AGEL) with the stock exchanges confirming that Adani Group Chairman Gautam Adani, his nephew Sagar Adani, and senior executive Vneet Jaain had been cleared of bribery charges by the ...Read More >
India's parliament faced suspension due to disruptions over allegations against the Adani Group. Gautam Adani and others are charged in a $265-million bribery scheme. The opposition accuses the government of shielding Adani, while BJP distances itself from the controversy, stating legal action will proceed independently. India's lower house of parliament experienced a suspension for a second consecutive day, as lawmakers pushed for discussions on the U.S. allegations of bribery and fraud involv ...Read More >
Rajya Sabha MP Mahesh Jethmalani accused Congress and other opposition parties of politically exploiting the US indictment against the Adani Group. He demanded evidence for allegations of bribery, declaring opposition's actions as diversionary tactics post electoral losses. Adani Group denied bribery charges, calling related reports incorrect. Senior Advocate and Rajya Sabha MP Mahesh Jethmalani launched a pointed critique against the Congress Party on Thursday, alleging they are using the US i ...Read More >
The Adani Group has reportedly lost $54 billion in market capitalisation since news of a US indictment surfaced on November 22, implicating Chairman Gautam Adani, his nephew Sagar Adani, and executive Vneet Jaain in a $265 million bribery scheme. The group denied the allegations, stating in a filing that the trio has not been charged with violating the US Foreign Corrupt Practices Act (FCPA) as claimed in media reports. ...Read More >
Rahul Gandhi demanded Gautam Adani's arrest following US court charges, despite Adani Group's denial of bribery allegations. Gandhi emphasized the severity of the charges, contrasting them with arrests made for lesser offenses, and accused the government of shielding Adani.Congress leader and Leader of Opposition in the Lok Sabha, Rahul Gandhi on Wednesday said that it was expected that the AdGroup would be denying the charges made by the US court involving industrialist Gautam Adani. He further ...Read More >
Proceedings in both houses of the Parliament came to halt on Wednesday amid protests by Oppostion members over the Adani Bribery controversy, recent violence in Sambhal in Uttar Pradesh and other issues. Lok Sabha proceedings were initially adjourned until 12 noon and later until Thursday, as Opposition members, including those from Congress, protested and sought to raise various issues at the start of the session. Some members from the Congress and Samajwadi Party were in the Well while other ...Read More >
New Delhi, Nov 27 (UNI) Leader of Opposition in Lok Sabha Rahul Gandhi on Wednesday demanded the arrest of industrialist Gautam Adani after the indictment by US authorities in the alleged bribery case. Talking to reporters in the Parliament House complex, Gandhi also accused the Central government of protecting Adani, who was supposed to be in jail. He said, "Hundreds of people have been arrested for tiny charges. This gentleman has been indicted in the US for thousands of crores. He should be ...Read More >
New Delhi [India], November 27 (ANI): Rajya Sabha MP and Senior Advocate Mahesh Jethmalani on Thursday said that the Congress and other Opposition parties are using the issue of the indictment against the Adani Group in the US "to divert attention from their electoral defeats" and said they must provide credible evidence before demanding a parliamentary probe. "The Congress is reading too much into this indictment and they are doing it for purely political purposes...," Jethmalani said. Re ...Read More >
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Adani Enterprises Ltd. and Wilmar International Ltd. are considering delaying a proposed sale of at least 12% in their Indian food venture after a US bribery indictment against the billionaire-founder Gautam Adani, according to people familiar with the matter. Adani Wilmar Ltd., an equal joint venture between India's Adani Group and the Singapore-based commodity trader, was slated to start the share sale this month to comply with local securities law that requires at least 25% of the holding t ...Read More >
Andhra Pradesh is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters. U.S. authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Central government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of ...Read More >
Adani Green says TotalEnergies' statement won't affect operations Adani Green Energy ADNA.NS said on Tuesday there is no new financial commitment under discussion with TotalEnergies TTEF.PA, a day after the French oil major said it was pausing new investments into the Adani Group over US bribery charges. TotalEnergies' move was the first major fallout after US authorities last week charged Adani's billionaire chairman, Gautam Adani, and seven other people, with agreeing to pay around $265 mill ...Read More >
French energy giant TotalEnergies has paused new investments in Gautam Adani's conglomerate amidst ongoing U.S. corruption investigations. Adani Green Energy Ltd. clarified that this pause will not affect its operations, as no new funding was under discussion. The Adani group denies all allegations as baseless. French energy giant TotalEnergies has paused new investments in Gautam Adani's conglomerate due to an ongoing U.S. investigation into alleged corruption charges against Adani and two exe ...Read More >
US authorities have charged Gautam Adani and seven others for allegedly agreeing to pay bribes of $265 million to unnamed Indian government officials to secure solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and Jammu and Kashmir between 2021 and 2022. According to the US indictment, most of the alleged bribes, amounting to $228 million, were paid to a government official to get Andhra Pradesh's electricity companies to buy power. However, Adani has denied the a ...Read More >
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New Delhi [India], November 18 (ANI): Bharatiya Janata Party leader and in-charge of the party's National IT Department, Amit Malviya, on Monday, criticised the Congress party's 'hypocrisy' over their stance on the Adani Group, pointing to past investments and agreements made with the corporate conglomerate by Congress-ruled states. Taking to social media platform X, Malviya referenced Telangana Chief Minister Revanth Reddy's recent "public admission of accepting money" from the Adani Group on ...Read More >
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