As investors and lenders considered the case, Adani dollar bond prices dropped to nearly one-year lows, and India’s parliament was stopped Monday after opposition legislators interrupted it to demand a hearing about bribery claims against the Adani Group.
Last Monday, US investigators accused Gautam Adani, the billionaire chairman of the Indian company, and seven other individuals of conspiring to bribe Indian government officials with approximately $265 million.
The charges concerned purported payments to establish India’s largest solar power facility and to secure contracts that might generate $2 billion in profit over 20 years.
Despite being informed about the US investigation in 2023, the allegations also included making false representations to the public.
