Adani Group Faces SEC Bribery Charges; Shares Tumble
Today, the United States Securities and Exchange Commission (SEC) charged Gautam Adani, chairman of the Adani Group, with allegedly paying $265 million in bribes to Indian government officials. These payments were purportedly made to secure contracts for Adani Green Energy, the renewable energy subsidiary of the conglomerate. The SEC also accused Adani of misleading U.S. investors by falsely claiming strong anti-bribery protocols while engaging in corrupt practices.
This development triggered a sharp decline in Adani Group stocks, with shares plunging as much as 20% at market open. Gautam Adani’s personal wealth also took a significant hit, dropping by Rs 88,726 crore (approximately $10.5 billion) in a single day.
The Adani Group has firmly denied the allegations, calling them unfounded and reaffirming their commitment to governance, transparency, and compliance at the highest standards.
| Company Name | NSE Symbol | Closing Price (₹) | Percentage Change (%) |
|---|---|---|---|
| Adani Enterprises Ltd | ADANIENT | 2,159.00 | -23.48 |
| Adani Ports and Special Economic Zone Ltd | ADANIPORTS | 1,117.00 | -13.39 |
| Adani Green Energy Ltd | ADANIGREEN | 1,147.20 | -18.79 |
| Adani Power Ltd | ADANIPOWER | 473.70 | -9.62 |
| Ambuja Cements Ltd | AMBUJACEM | 480.75 | -12.52 |