Skip to content
Search

Latest Stories

US prosecutors charge Gautam Adani in bribery case

Adani, the chairman of Adani Group, leads a business empire spanning coal, airports, cement, and media.

US prosecutors charge Gautam Adani in bribery case

US PROSECUTORS have charged billionaire Indian industrialist Gautam Adani with paying bribes worth hundreds of millions of pounds and concealing the payments from investors.

Adani, the chairman of Adani Group, leads a business empire spanning coal, airports, cement, and media. He has faced allegations of corporate fraud and a significant stock crash in recent years.


According to US prosecutors, Adani agreed to pay over £198 million in bribes to Indian officials to secure profitable solar energy supply contracts. The contracts were estimated to generate post-tax profits exceeding £1.59 billion over about 20 years.

Prosecutors confirmed that none of the defendants, including Adani, are in custody. They allege that one of Adani's associates meticulously documented bribe payments, recording details on his phone.

"This indictment alleges schemes to pay over $250m in bribes to Indian government officials, to lie to investors and banks to raise billions of dollars, and to obstruct justice," said deputy assistant attorney general Lisa Miller.

Adani Group has rejected the charges. "The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied," the conglomerate said in a statement, adding that "all possible legal recourse will be sought"."The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations," the statement added.

Allegations of bribery and obstruction

FBI official James Dennehy said, "Gautam Adani and seven other business executives allegedly bribed the Indian government to finance lucrative contracts designed to benefit their businesses... while still other defendants allegedly attempted to conceal the bribery conspiracy by obstructing the government's investigation."

Adani, who describes himself as an introvert, is known for avoiding media appearances and often delegates public engagements to his team.

Born in Ahmedabad, Gujarat, to a middle-class family, Adani dropped out of school at 16 and moved to Mumbai to work in the gem trade. After working briefly in his brother's plastics business, he established the Adani Group in 1988, starting with export trading.

Adani's significant break came in 1995 when he secured a contract to develop and operate a commercial shipping port in Gujarat.

Concerns about Adani Group's rapid expansion into capital-intensive sectors have been raised before. In 2022, CreditSights, a Fitch subsidiary, warned that the conglomerate was "deeply over-leveraged."

In 2023, a report from US-based Hindenburg Research accused Adani Group of engaging in stock manipulation and accounting fraud over several decades. The report also pointed to what it described as "government leniency towards the group," which it claimed discouraged criticism from investors, journalists, and politicians due to fear of reprisal.

(With inputs from AFP)

More For You

UK Asian Film Festival 2025 Explores Themes of Longing & Belonging

The UK Asian Film Festival 2025 explores themes of love, identity, and belonging through South Asian cinema

gatty image

UK Asian Film Festival celebrates stories of longing and belonging in 27th edition

From May 1st to 11th, the UK Asian Film Festival (UKAFF) returns for its 27th edition, bringing an interesting line-up of films and events to London, Leicester, and Coventry. This year’s theme, “Longing and Belonging,” explores the universal human search for connection, identity, and purpose through South Asian cinema.

As the longest-running South Asian film festival in the world, UKAFF has always championed female voices and challenged patriarchal norms. This year’s selection continues that mission, presenting stories of displacement, love, tradition, and resilience.

Keep ReadingShow less
ve-day-getty

VE Day 80 street parties, picnics and community get togethers are being encouraged to take place across the country as part of the Great British Food Festival. (Photo: Getty Images)

Public invited to attend VE Day 80 procession and flypast

THE 80th anniversary of Victory in Europe (VE) Day will be marked with a military procession in London on May 5.

The event will include over 1,300 members of the Armed Forces, youth groups, and uniformed services marching from Parliament Square to Buckingham Palace.

Keep ReadingShow less
Thudarum Review Round-Up: Mohanlal Delivers a Comeback Masterclass

A scene from Thudarum showcasing Mohanlal and Shobana’s mature on-screen chemistry in this slow-burn family thriller

Instagram/thudarummovie

'Thudarum' review round-up: Mohanlal returns to form in a dark, emotional ride that’s winning hearts

Director Tharun Moorthy’s Thudarum has drawn attention not just for its gripping storyline, but for bringing back the Mohanlal audiences have longed to see: an actor rooted in emotion rather than spectacle. With critics praising both the writing and performances, Thudarum has emerged as a memorable addition to Mohanlal’s long filmography, with reviewers calling it a return to form.

Across the board, reviewers highlight how the film presents Mohanlal as Shanmugham (nicknamed Benz), a humble taxi driver and former stuntman who now lives a quiet life in a Kerala village with his wife, played by Shobana, and two children. His prized possession is his old black Ambassador car, a gift from a mentor which becomes central to the plot when it’s unknowingly used, setting off a chain of devastating events.

Keep ReadingShow less
Neeraj Chopra and Arshad Nadeem

A day before the attack, Chopra had announced that top javelin throwers, including Paris Olympics champion Nadeem, had been invited to the event on May 24.

Neeraj Chopra rules out Arshad Nadeem’s presence at Bengaluru event

INDIA’s Olympic gold medallist Neeraj Chopra has said that Pakistan’s Arshad Nadeem will not be attending the Neeraj Chopra Classic in Bengaluru next month. His comments came after the terrorist attack in Jammu and Kashmir that killed 26 tourists.

Chopra said the possibility of Nadeem’s presence was “completely out of the question” following the attack, which took place on Tuesday.

Keep ReadingShow less
Songs of the Bulbul

Songs of the Bulbul: A Captivating Fusion of Sufi Myth, Dance, and Music at Leicester’s Curve Theatre

Sufi myth, dance, music at Curve

This April, audiences in Leicester are invited to experience Songs of the Bulbul — a powerful new dance production by acclaimed choreographer Aakash Odedra. Staged at the Curve Theatre, this evocative performance blends classical dance with spiritual storytelling, music, and visual elegance.

Inspired by an ancient Sufi myth, Songs of the Bulbul brings to life the haunting tale of a bulbul (nightingale) held in captivity. The narrative draws deeply from mystic symbolism, exploring themes of longing, freedom, and the soul’s journey through confinement and release.

Keep ReadingShow less