+
Fresh SC plea seeks probe into Gautam Adani's US indictment
ECONOMY & POLICY

Fresh SC plea seeks probe into Gautam Adani's US indictment

A new plea has been submitted to the Supreme Court, calling for an investigation into allegations against billionaire Gautam Adani, who has been indicted in the US for alleged bribery and fraud. The petition, filed by advocate Vishal Tiwari as part of the ongoing Adani-Hindenburg case, claims the charges reveal "malpractices carried out by the conglomerate."

The US Department of Justice has accused Adani of orchestrating a $265 bribery scheme to secure favourable terms for solar power contracts in four Indian states. The Adani Group has denied the allegations, calling them baseless and asserting its compliance with all laws. The conglomerate has also pledged to explore all legal options in its defence.

In the plea, Tiwari argued that the charges are of a "serious nature" and merit investigation by Indian authorities. He emphasised the importance of the Securities and Exchange Board of India (SEBI) concluding its probe into alleged stock price manipulation and presenting its findings transparently to restore investor confidence.

"The SEBI investigation must clarify whether there is any connection between the short-selling allegations and the charges raised by US prosecutors. A conclusive report is essential to maintain the trust of investors," the plea stated.

(ET)

A new plea has been submitted to the Supreme Court, calling for an investigation into allegations against billionaire Gautam Adani, who has been indicted in the US for alleged bribery and fraud. The petition, filed by advocate Vishal Tiwari as part of the ongoing Adani-Hindenburg case, claims the charges reveal malpractices carried out by the conglomerate. The US Department of Justice has accused Adani of orchestrating a $265 bribery scheme to secure favourable terms for solar power contracts in four Indian states. The Adani Group has denied the allegations, calling them baseless and asserting its compliance with all laws. The conglomerate has also pledged to explore all legal options in its defence. In the plea, Tiwari argued that the charges are of a serious nature and merit investigation by Indian authorities. He emphasised the importance of the Securities and Exchange Board of India (SEBI) concluding its probe into alleged stock price manipulation and presenting its findings transparently to restore investor confidence. The SEBI investigation must clarify whether there is any connection between the short-selling allegations and the charges raised by US prosecutors. A conclusive report is essential to maintain the trust of investors, the plea stated. (ET)

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code