Adani Group stocks fall; Adani Green Energy declines over 4 pc
New Delhi (PTI): Shares of Adani group stocks fell on Thursday after a report from investigative reporting platform OCCRP alleged hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family of billionaire Gautam Adani.
However, the conglomerate denied the charges vehemently.
On the BSE, the stock of Adani Green Energy nosedived 4.43 per cent to Rs 927.65 apiece, with a market capitalisation of Rs 1.47 lakh crore.
The scrip of Adani Power plunged 3.82 per cent to Rs 315.85, flagship firm Adani Enterprises declined 3.56 per cent to Rs 2,424 and Adani Energy Solutions fell 3.18 per cent to Rs 814.95 apiece on the bourse.
Also, Adani Ports and Special Economic Zone (APSEZ) slipped 2.75 per cent to Rs 796.50, Adani Total Gas dipped 2.74 per cent to Rs 634.60, NDTV fell 2.69 per cent to Rs 213.30 and Adani Wilmar declined 1.83 per cent to Rs 362.20 per piece on the BSE.
Shares of ACC dipped 3.15 per cent to Rs 1,937.10 and Ambuja Cements fell 2.84 per cent to Rs 431.60.
In the morning session, the 30-shares BSE Sensex was trading 38.32 points or 0.06 per cent lower at 65,048.93 points.
The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP (Organised Crime and Corruption Reporting Project) said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
The two men, Nasser Ali Shaban Ahli and Chang Chung-Ling, who OCCRP claimed have longtime business ties to the Adani family and have also served as directors and shareholders in Group companies and firms associated with Gautam Adani's elder brother Vinod Adani, "spent years buying and selling Adani stock through offshore structures that obscured their involvement - and made considerable profits in the process."
The documents "show that the management company in charge of their investments paid a Vinod Adani company to advice them in their investment", it alleged.
Adani in a statement categorically rejected what it called as "recycled allegations", calling them "yet another concerted bid by Soros-funded interests supported by a section of the foreign media to revive the meritless Hindenburg report".
"These claims are based on closed cases from a decade ago when the Directorate of Revenue Intelligence (DRI) probed allegations of over invoicing, transfer of funds abroad, related party transactions and investments through FPIs. An independent adjudicating authority and an appellate tribunal had both confirmed that there was no over-valuation and that the transactions were in accordance with applicable law. The matter attained finality in March 2023 when the Supreme Court of India ruled in our favour. Clearly, since there was no over-valuation, there is no relevance or foundation for these allegations on transfer of funds," it said.
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Mumbai court clerk caught by ACB taking Rs 15L; additional sessions judge named in FIR
Mumbai: A clerk at Mazgaon Civil and Session Court, Chandrakant Vasudev (40), was arrested by the Anti-Corruption Bureau (ACB) on Tuesday for accepting a bribe of Rs 15 lakh from a Bandra businessman for a favourable verdict in a land dispute case.
The ACB officials said on Wednesday that additional sessions judge, Aejazuddin S Kazi (55), has been named in the FIR filed in the case and shown as wanted by the Bureau.
Both Vasudev and Judge Kazi have been booked under the Prevention of Corruption Act.
The officials have added that the businessman had been asked initially to give a total of Rs 25 lakh, as Rs 15 lakh for the judge and Rs 10 lakh for the clerk. After negotiations, the amount was reduced to Rs 15 lakh.
The clerk Vasudev was produced in court and sent to judicial custody for five days.
ACB Assistant Commissioner of Police Manisha Zende has said that Kazi was booked after Vasudev confirmed the judge’s role in the graft. The clerk had called the judge when he was caught by the ACB team and informed Kazi that he had received the money, she added. The official, however, said that Kazi was yet to be arrested and remains a wanted accused.
In April 2016, the Bombay High Court had stayed the creation of third-party rights on the disputed land. As the land’s valuation was below ₹10 crore, the commercial suit was transferred to the Civil Sessions Court in Mazgaon.
On September 9, 2025, an office associate of the complainant received a call from Vasudev when he was at Court No 14 of the Civil Sessions Court, the ACB stated.
Vasudev is said to have met the complainant in suburban Chembur, where he demanded ₹25 lakh. After the complainant refused to pay the huge amount, Vasudev allegedly called him repeated to demand the bribe, which prompted the complainant to approach and file a complaint with the ACB on November 10.
As instructed by the ACB, the complainant met Vasudev on the court premises and agreed to pay ₹15 lakh. Vasudev called Judge Kazi to inform him about the payment, and the judge allegedly acknowledged the bribe, after which, the clerk was apprehended and arrested by the ACB officials.
Further investigation is underway, the official said.
