Adani Team Shares Plunge Amid SEC Bribery Allegations
Adani Team business experienced a substantial stock decline Friday complying with the united state Securities and Exchange Payment’s (SEC) effort to serve summons to Chairman Gautam Adani and nephew Sagar Adani via email. The SEC seeks to explore bribery and scams accusations after the Indian government reportedly declined to aid in offering the summons.
- Stock Effect: Adani Enterprises dropped 10 8 %; Adani Green Energy dove 14 6 %.
- Market Capitalization: Adani companies lost over 1 lakh crore.
- SEC Allegations: Bribery of Indian authorities to secure power contracts.
- Adani’s Response: Rejects the costs, means to seek lawsuit.
