🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Kenya cancels proposed power transmission deal with Adani Group following US bribery indictment scandal
Livemint
·
8m ago
Medial
Kenya has cancelled a power transmission deal with Adani Group after the group was indicted in a bribery scandal in the US. The cancellation decision was made following the indictment of executives of Adani Group for alleged bribery in relation to a power transmission project in India. The cancellation reflects Kenya's commitment to fighting corruption and maintaining ethical business practices. Stay up to date with the latest news, financial performance, and market changes of companies across various industries.
View Source
Related News
Adani ‘bribery’ case: Andhra Pradesh likely to suspend Adani Group’s power supply deal | Company Business News
Livemint
·
8m ago
Medial
Indian state, Andhra Pradesh, is reportedly planning to suspend a power purchase deal with Adani Group due to the recent indictment of founder Gautam Adani over an alleged bribery scheme. The state will ask for an investigation into the charges, which accuse Adani and others of paying bribes to obtain solar power-supply contracts. If the suspension goes ahead, it would be the first action taken by an Indian state government following the indictment. The Adani Group has stated that the allegations are baseless.
View Source
Adani may see wider impact from US setback
Livemint
·
8m ago
Medial
The Adani Group, an Indian conglomerate, has denied bribery charges following an indictment in the US. The US Department of Justice accused the company's founder, Gautam Adani, and other executives of bribing Indian officials to secure green power supply agreements. The US Securities and Exchange Commission also accused the Adani Group of securities fraud. Investors in Adani group companies lost ₹2.24 trillion ($29.9 billion) as shares plunged. The indictment could result in hefty fines and legal battles, potentially damaging the group's creditworthiness and access to investors. Ratings firm Moody's highlighted the negative implications this could have on the company's creditworthiness.
View Source
After GQG, Abu Dhabi's IHC backs Adani over US indictment
Livemint
·
8m ago
Medial
International Holding Company (IHC), the investment arm of Abu Dhabi's ruling family, has expressed its confidence in the Adani group despite the recent indictment of Gautam Adani and others by US federal prosecutors for alleged bribery. IHC, the third-largest foreign investor in Adani with a $2.5 billion investment, stated that its strategy is focused on long-term growth and sustainability. Other major investors in Adani include TotalEnergies and GQG Partners. Adani group denies all charges and has suffered a significant loss in market capitalization following the indictment.
View Source
Adani bribery case: whistleblowers, WhatsApp texts, and ‘incentives’
Livemint
·
8m ago
Medial
The US Department of Justice has indicted billionaire Gautam Adani and seven others from the Adani group in a $250 million bribery scam. The charges come after a two-year probe triggered by whistleblower complaints alleging financial impropriety. The Adani group, which denied the allegations, saw the stocks of its company sink following the indictment. The probe revolves around payments made to Indian government officials in relation to power purchase agreements. The charges pose challenges for the group's foreign fundraising efforts and come after previous allegations of stock market manipulation and accounting fraud.
View Source
Adani Group stocks plunge after US indictments
VCCircle
·
8m ago
Medial
Shares of Adani Group companies saw a sharp decline in market value after the chairman, Gautam Adani, was indicted by U.S. authorities for his alleged involvement in a bribery and fraud scheme. The group lost approximately $22 billion in market capitalization in early trading. The charges claim that Adani and seven others paid bribes to Indian officials to secure profitable contracts and develop a major solar power plant project. The indictment follows previous allegations made by U.S. shortseller Hindenburg Research regarding Adani's use of tax havens and stock manipulation.
View Source
Adani Group could find funding harder after $265 mn bribery indictment
VCCircle
·
8m ago
Medial
Indian conglomerate Adani Group may face difficulty in securing funding following the recent indictment of its billionaire founder, Gautam Adani, for his alleged involvement in a $265 million bribery scheme. Some global banks are considering halting fresh credit to the group, while ratings agency S&P warned of potentially fewer takers for Adani's planned equity and debt market access. The fallout could extend beyond the Adani Group, impacting India's renewable energy sector and potentially slowing down international investment and project financing. The Securities and Exchange Board of India is also investigating if Adani entities breached local market regulations.
View Source
TotalEnergies halts Adani investments; GQG bets on Indian govt backing amid US bribery charges | Company Business News
Livemint
·
8m ago
Medial
French energy company TotalEnergies has decided not to invest additional capital in Adani Group companies following the indictment of top executives in a $250m bribery case. However, major investor GQG Partners remains optimistic and expects the Indian government to support the conglomerate. GQG Partners acknowledge the seriousness of the allegations against individuals, but believes the fundamentals of the invested companies remain sound. The US Department of Justice and Securities and Exchange Commission have charged Adani Group founder Gautam Adani and others with allegedly paying bribes to Indian government officials.
View Source
US bribery charges linked to only one contract, comprises 10% of business: Adani Group CFO | Company Business News
Livemint
·
8m ago
Medial
Indian billionaire Gautam Adani, along with seven others, has been indicted by US prosecutors for their alleged involvement in a $265 million bribery scheme to secure power-supply deals in India. Adani, one of the world's richest individuals, has denied the allegations. The indictment is linked to one contract of Adani Green Energy, which constitutes around 10% of its overall business. Other companies in the Adani conglomerate are not accused of any wrongdoing. The charges have had significant consequences, with Adani's shares falling and some global banks considering halting fresh credit to the group.
View Source
Adani CFO refutes US allegations: ‘Individuals accused in bribery case to clarify matter in 10 days’ | Company Business News
Livemint
·
8m ago
Medial
Adani Group CFO, Jugeshinder Singh, has refuted the bribery allegations against group executives made by the US, stating that the accusations are unfounded. Singh stated that the individuals involved will provide clarity on the matter within 10 days. US authorities had accused Chairman Gautam Adani, his nephew Sagar Adani, and managing director of Adani Green, Vneet S. Jaain, of participating in a $265 million bribery scheme to secure solar power contracts in India. Adani Group has consistently denied the charges and pledged to explore legal options.
View Source
Andhra Pradesh extends power supply deadline for Adani Green Energy
Livemint
·
8m ago
Medial
The Andhra Pradesh government has granted a second extension to Adani Green Energy Ltd for supplying renewable power. Adani Green missed two earlier deadlines due to transmission unavailability. The original deadline of March was first extended to September and now extended to 25 December. Adani Green was contracted to supply 3,000 MW of renewable electricity to Andhra Pradesh starting in 2024, another 3,000 MW in 2025, and an additional 1,000 MW in 2026. The extension comes amid reports of the state government considering suspending the power supply agreement with Adani Green amid allegations against the Adani group's founder-chairman and other executives for alleged bribery. Adani Green denied the allegations.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
