For their alleged roles in a US$ 265 million program to reward American officials to secure energy supply deals, businessman Gautam Adani, the team’s creator, his nephew Sagar Adani, and six others have been charged by US prosecutors.
The Adani Group has dismissed as “baseless and denied” the charges, along with those made by the , US Securities and Exchange Commission in a parallel legal situation, adding it do” get all possible legal remedy”.
The gifts were used to create India’s largest solar power plant and win deals that were supposed to bring in US$$ 2 billion in 20 years.
After three weeks of steep declines, Adani dollar bonds stabilized on Tuesday, and their prices eased.
Prices increased between half a share and one and one-fifth of a cent on the money for some of the more liquid Adani Slots and Exclusive Economic Zone debts due between 2027 and 2041. They have fallen about 8 percent to 12 percent since reports of the prosecution.
Morningstar Sustainalytics, a renowned ESG rating service, announced that it would examine Adani Green Energy’s ESG challenges.
” No firm, green or brown, can represent a good investment option without strong management policies and practices”, Hortense Bioy, its head of responsible investing research, said in an message.
SBI Asset Management in Japan revealed this month how much of four of the resources it manages are exposed to the Adani Group companies.
Its SBI/UTI India Infrastructure Equity Fund had the highest coverage at 2.55 per cent, while that of the other three ranged from 2.08 per cent to 0.21 per share, SBI said in a statement.  ,