The 'Corrupt Solar Project' Scandal: Adani's New Hurdle

Indian billionaire Gautam Adani faces U.S. charges for alleged involvement in a $265 million bribery scheme. This scandal, termed 'The Corrupt Solar Project', affects Adani's global business operations. The indictment has led to financial and legal challenges worldwide, questioning Adani Group's market transparency.

Indian billionaire Gautam Adani has been indicted by U.S. prosecutors in a sweeping scandal, accusing him of being part of a $265 million bribery scheme aimed at influencing Indian officials. The charges, which have reverberated through Adani's expansive business empire, come amid concerns about market transparency and financial disclosure.

U.S. authorities allege Adani's involvement in foreign bribery, securities fraud, and wire fraud, linked to power supply deals in India's energy sector. As the case unfolds, financial markets have reacted sharply, with Adani Group's debts and stock values facing significant pressure.

Globally, the indictment is prompting varied responses. Nations like Kenya and Bangladesh are reassessing their associations with Adani Group, while in India, political opposition spearheads calls for deeper investigations. The future for Adani remains uncertain, as legal battles loom and his responses to U.S. allegations are awaited.

(With inputs from agencies.)