Bribery Allegations Rocking Adani Group: A Billionaire Conglomerate Under Scrutiny

Indian billionaire Gautam Adani heads a vast conglomerate involved in sectors from energy to media. U.S. authorities accuse Adani and associates of a $265 million bribery scheme to secure Indian power contracts and mislead U.S. investors. The Adani Group denies the allegations, spanning diverse ventures.

Indian billionaire Gautam Adani, head of a sprawling conglomerate, faces serious allegations from U.S. authorities. The charges claim that Adani, alongside his nephew Sagar Adani and executive Vneet S. Jaain, orchestrated a $265 million bribery scheme to obtain Indian power supply contracts.

The accusations also encompass misleading U.S. investors during previous fundraising activities. Adani Group has dismissed these claims as baseless, defending its diverse business portfolio that spans from energy and infrastructure to media and edible oils.

Despite these legal challenges, the conglomerate continues its operations in areas like renewable energy, with Adani Green Energy at the center of the U.S. indictment. Adani's business empire also extends to managing ports, airports, and real estate, marking its influential presence in both domestic and international markets.

(With inputs from agencies.)