
Feb, 13 2025
Adani Faces Major Setback as Stocks Nosedive Amid Bribery Allegations
Adani Group stocks saw a drastic fall after US prosecutors charged Gautam Adani and others in a $250 million bribery scandal linked to solar contracts in India. The charges include bribery and obstruction of justice, leading to civil and criminal actions. This debacle further dented Adani's financial standing, leading to panic in stock and bond markets and the scrapping of a major bond issuance.