More losses for Adani shares in India after founder charged with paying more than US$250m in bribes for govt contracts

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More losses for Adani shares in India after founder charged with paying more than US$250m in bribes for govt contracts - Malay Mail

Quick Summary:

MUMBAI, Nov 22, 2024 — Shares in Indian billionaire Gautam Adani’s conglomerate sunk again today after US charges allegi...

The conglomerate saw US$150 billion wiped from its market value in 2023 after a report by short-seller Hindenburg Research accused it of “brazen” corporate fraud.

Modi’s government has yet to comment on the charges but a spokesman for his ruling Bharatiya Janata Party (BJP), Amit Malviya, said the indictment appeared to implicate opposition parties rather than his own.