Adani Group's Sri Lanka Port Project Under Scrutiny

The U.S. agency reviewing a $500 million loan for Sri Lanka's port project, supported by the Adani Group, is still undergoing due diligence due to bribery allegations against Gautam Adani and top executives. The scrutiny reflects concerns over the group's ethical conduct and financial integrity.

The U.S. agency responsible for approving a significant $500 million loan for a Sri Lanka port development, linked with the Adani Group, is in the midst of an intense due diligence process. This follows serious bribery allegations against the group's founder, Gautam Adani, and other high-ranking officials.

The allegations have cast a shadow over the multimillion-dollar infrastructure project, raising significant concerns about the ethical practices and business integrity of the Adani Group. Bloomberg News highlighted these developments over the weekend.

The U.S. agency's thorough investigation indicates a heightened sensitivity to potential corruption, demanding accountability and transparency in international business dealings, particularly in major infrastructure investments.

(With inputs from agencies.)