US Court Issues Arrest Warrant Against Gautam Adani In ₹2,110 Crore Bribe Case For 'Defrauding Investors': Reports

According to CNBC citing court reports, An arrest warrant has been issued against Adani group chairman Gautam Adani in Rs 2,110 crore bribe case.

The founder and chairman of the Adani Group, billionaire Gautam Adani, was previously charged by the U.S. Securities and Exchange Commission (SEC) for bribing officials and scamming American investors.

The SEC claimed that the bribery plan was set up to allow Adani Green and Azure Power, two renewable energy businesses, to profit from a multibillion-dollar solar energy project that the Indian government had granted.

As per reports emerging from American news publications reporting on the matter, and arrest warrant has been issued against Gautam Adani and others by the US Federal Court. This was reported by CNBC and ABC news, it cannot be individually verified at this point.

Adani and the other defendants have been charged by the US Securities and Exchange Commission (SEC) with violating the Foreign Corrupt Practices Act (FCPA) in New York. The US District Court for the Eastern District of New York is where the case has been filed.

Bond in Asian Markets

Thursday's early Asian trading saw a decline in Adani dollar bonds, with prices for Adani Ports and Special Economic Zone bonds falling between 3 and 5 cents. Since the Adani Group was attacked by short sellers in February 2023, the declines were the biggest.

The Adanis and former CEO Vneet Jaain of Adani Green Energy, according to the prosecution, concealed their corruption from investors and lenders in order to raise over USD 3 billion in loans and bonds.

Hindenburg's accusations

After Hindenburg Research's accusations of 'brazen stock manipulation,’ ‘accounting fraud,’ and ‘money laundering,’ the Adani Group saw its biggest stock market decline since February 2023, according to a report released in early trade today.