Adani Green scraps USD 600 mn bond sale after promoter charged in alleged bribery case in US
New Delhi (PTI): Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, on Thursday scrapped a USD 600 million bond issue after its promoter was charged in an alleged bribery case in the US.
Hours before the US prosecutors charged Gautam Adani and associates with participating in a scheme to pay over USD 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, the firm sold a 20-year green bond in the US-investment-grade market.
The issue was over-subscribed three times. But following the allegations, the issue was scrapped.
"The United States Department of Justice and the United States Securities and Exchange Commission have issued a criminal indictment and brought a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against our Board members, Gautam Adani and Sagar Adani.
"The United States Department of Justice has also included our Board member, Vneet Jaain, in such criminal indictment. In light of these developments, our subsidiaries have presently decided not to proceed with the proposed USD denominated bond offerings," Adani Green Energy said in a stock exchange filing.
The firm had tried to sell a similar offering a month ago but postponed the deal after some investors pushed back on pricing.
Last year, the ports-to-energy conglomerate had crapped a Rs 20,000 crore Follow-on Public Offer (FPO) at its flagship firm, Adani Enterprises Ltd following damning allegations by US short-seller Hindenburg Research.
That issue too was fully subscribed but the company decided to call it off and refund all investors.
Hindenburg had alleged "brazen stock manipulation and accounting fraud" in January 2023 that led to the conglomerate seeing USD 150 billion wipeout in market value at its lowest point. Adani Group had denied all allegations made by Hindenburg.
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Mumbai family deaths: Rat poison ingredient zinc phosphide found in viscera, watermelon sample
Mumbai (PTI): Four members of a family in Pydhonie area of south Mumbai died last month due to rat poison, police officials said on Thursday.
The Forensic Science Laboratory (FSL) report has confirmed the presence of zinc phosphide in viscera (liver, kidney, spleen), stomach contents, bile, and abdominal fat samples of the deceased identified as Abdulla Dokadia (44), his wife Nasrin (35) and their daughters Aayesha (16) and Zaineb (13), said Deputy Commissioner of Police Pravin Mundhe.
"The watermelon sample also tested positive for zinc phosphide, while all other food items were negative. The report will be studied in depth. We will consult forensic doctors. Further probe in the case is underway," the DCP said.
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Zinc phosphide is used primarily as a highly toxic acute rodenticide to control rats and mice.
"The forensic experts who examined the viscera of deceased Abdulla Dokadia, Nasrin (35), Aayesha (16) and Zaineb (13) found traces of zinc phosphide. It is, however, unclear whether the rat poison was consumed accidentally (or on purpose). So far, we have found no strong reason why the whole family would take such an extreme step," another official said.
Further probe is being conducted by the JJ Marg police station, which has recorded statements of kin and neighbours, he added.
The Dokadia family, residents of Ghari Mohalla on Ismail Kurte Road, had hosted a get-together of relatives on the night of April 25. At around 1 am, hours after the guests had left, Abdullah Dokadia, his wife Nasreen, and daughters Ayesha and Zaineb ate pieces of a watermelon.
They suffered severe bouts of vomiting and diarrhoea in the early hours of April 26 and were rushed to a local hospital before being referred to the government-run J J Hospital where all four died during treatment.
