Arrest warrant issued for Gautam Adani, nephew Sagar Adani in bribery case in USA
New York: Gautam Adani, the billionaire chairman of the Adani Group, and his nephew Sagar Adani have been indicted in New York over their alleged involvement in a $265 million bribery scheme, according to US prosecutors.
Authorities allege that Adani and seven other defendants conspired to pay bribes to Indian government officials to secure contracts projected to generate $2 billion in profit over 20 years and to develop India's largest solar power plant project.
A judge has issued arrest warrants for both Gautam and Sagar Adani, with prosecutors planning to forward these warrants to foreign law enforcement, court records reveal.
The indictment has had an immediate fallout for the Adani empire. Adani Green Energy cancelled plans to raise $600 million through US dollar-denominated bonds. The bond issue had already been priced but was withdrawn following the news, according to sources.
In early Asian trading on Thursday, Adani dollar bonds experienced a significant drop, with prices for Adani Ports and Special Economic Zone bonds falling by 3-5c. This marks the most substantial decline since the group faced a short-seller attack in February 2023.
Prosecutors also stated that the Adanis and another executive, former Adani Green Energy CEO Vneet Jaain, concealed corruption while raising over $3 billion in loans and bonds. Court documents reveal that conspirators used code names such as "Numero Uno" and "The Big Man" for Gautam Adani, while Sagar Adani allegedly monitored bribe-related details on his cellphone.
Shares of GQG Partners, an Australian investment firm and a key Adani backer, plunged by 20%, marking the steepest one-day decline since the firm’s listing three years ago. GQG Partners, which holds stakes in various Adani companies, has stated that it is monitoring the situation closely.
The Adani Group has not yet commented on the allegations or the indictment.
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UP: Over 100 monkeys die of toxic chemical, buried in pit to hide carnage
Hathras (UP), Nov 22: More than 100 monkeys perished after inhaling a pesticide sprayed in a food godown and were stealthily buried in a pit, police on Friday said.
The bodies were taken out for a postmortem by a team of veterinarians on Friday.
Circle Officer Yogendra Krishna Narayan said police came to know about the deaths on Wednesday.
Police have registered a case against the employees of Food Corporation of India and started an investigation.
According to police, the chemical in question was aluminium phosphide sprayed on wheat sacks to protect it from insects and rodents in an FCI warehouse on November 7.
A troop of monkeys entered the warehouse through a broken window of the godown on the night of November 7 and ended up inhaling the gas.
When the workers opened the warehouse on November 9, they saw several monkeys dead.
They allegedly chose not to inform their seniors about deaths and buried the bodies in a pit.
The CO said the bodies were exhumed when some Vishv Hindu Parishad leaders came to know about the incident.
As per police count, more than 100 monkeys were exhumed from the pit.
Their bodies were in late stage decay, the officer said.
