Adani U.S indictment: Arrest Warrant issued to Gautham Adani; company's stocks plunge

A US court indicted Gautam Adani and seven others including his nephew Sagar and 3 other executives on charges of fraud and bribery. The case pertained to a deal between Adani Green Energy and a US firm to sell 12 gigawatts of solar power to various states. The charges came on a day when the firm planned a green bond launch in the US. The Adani subsidiary eventually cancelled the sale.

Adanis stocks nosedived as reports of a possible arrest of one of India’s richest businessman looms large. The Congress, which has repeatedly sought a JPC probe into the “Adani Mega Scam” said it’s stand has been vindicated.

For live updates on Adani indictment issue, click here: https://www.thehindu.com/news/national/adani-charged-with-bribery-scheme-live-updates-adani-dollar-bonds-tumble/article68892464.ece

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