Adani Group announced it will not proceed with its proposed USD-denominated bond offerings following criminal and civil charges brought against its board members, Gautam Adani, Sagar Adani, and Vneet Jaain.
The United States Department of Justice (DOJ) has issued a criminal indictment, and the United States Securities and Exchange Commission (SEC) has filed a civil complaint in the United States District Court for the Eastern District of New York. The charges have prompted the company’s subsidiaries to halt fundraising plans through the bond market.
Adani Green has informed both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) of these developments and has requested that the update be taken on record.
Disclaimer: This report is for informational purposes only and should not be considered investment advice. Please consult a financial advisor before making investment decisions.
