Property ROUT AND FALLOUT
Adani Group’s debt and equity have been jolted by the US accusation. Following the news, Adani Group ties dropped for a minute period. The companies ‘ stock prices stabilized on Friday, one day after almost US$ 27 billion was taken from those shares ‘ combined market value.
Kenya’s decision to end Adani network talks worth more than US$ 2.5 billion was a big blow. And opposition parties in India have also stated they will raise the issue with parliament by calling for a probe into allegations of wrong.
WHAT NEXT FOR ADANI, LEGAL OPTIONS
What will Gautam Adani do following, in your opinion? He is charged with unusual corruption, stocks fraud, securities fraud crime and wire fraud crime.
Adani is believed to be in India, but he has not been detained and movements are mysterious.
Yet if Adani is extradited or loses in the US, a test may still be far away.
Adani may receive years in prison as well as financial fines if found guilty, but the judge who oversees the case’s sentencing may finally decide whether or not to sentence him.