Adani Group Denies Allegations By US Officials, Issues Statement

Shortly after a US Court in New York issued a criminal indictment against board members of the Adani Group, the company announced the withdrawal of its proposed USD-denominated bond offerings. Adani Green Energy Limited, a key subsidiary, released a statement on the stock exchanges acknowledging the development, stating, "In light of these developments, our subsidiaries have presently decided not to proceed with the proposed USD-denominated bond offerings." The move marks a significant shift in the company’s financial strategy amidst heightened scrutiny, reflecting the potential impact of the legal challenges on its global operations and fundraising activities.