Stock exchanges have sought clarification on violation of disclosure norms by Adani Group entities regarding the alleged bribery case in the US and subsequent cancellation of Kenya’s airport expansion deal.
In its response to the case in the US, Adani Group firms on Thursday had said “there are no allegations made against the company”.
On clarification with regard to Kenya cancelling airport expansion and energy deals following the US bribery and fraud indictments, the group is yet to respond to the bourses.
While there was no word from Sebi officials, experts pointed out the regulator will have to definitely look into it if there are any disclosure and other violations and take necessary action.
Billionaire Gautam Adani, his nephew Sagar Adani, and others have been charged by US prosecutors with allegedly being part of an elaborate scheme to pay USD 265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts.
The United
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