+
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)

Next Story
Infrastructure Transport

KMRL Invites Bids For Metro Phase 2 Station Works

Kochi Metro Rail Limited (KMRL) has invited bids for completing the balance works related to the construction of entry and exit buildings at Civil Station Junction and Cochin SEZ Metro Station, as part of Phase 2 of the Kochi Metro project.Phase 2 covers a single corridor — the Pink Line — running 11.2 km between JLN Stadium and Infopark II, with 11 stations. The latest tender is aimed at finalising station access works, excluding architectural and building service components.According to tender documents, the estimated cost of the contract is Rs 1.99 billion. The pre-bid meeting is schedu..

Next Story
Infrastructure Transport

Tamil Nadu Clears Preparatory Work For New Chennai Metro Line

The Tamil Nadu government has granted administrative sanction for the preparatory work on the 21.76-km Koyambedu–Avadi–Pattabiram metro corridor. This approval allows Chennai Metro Rail Limited (CMRL) to begin land acquisition, utility shifting, and other groundwork while awaiting clearance from the Union government.The State government had already approved the project in May and submitted the detailed project report to the Centre. However, the Ministry of Housing and Urban Affairs has also requested a Comprehensive Mobility Plan (CMP) before granting final approval.According to an order i..

Next Story
Infrastructure Transport

Metro-14 To Link Kanjurmarg With Badlapur In Thane

Mumbai’s metro network is set for a major expansion with the proposed Metro-14 line, connecting Vikhroli/Kanjurmarg in eastern Mumbai to Badlapur in Thane district. Spanning between 38 km and 45 km, the project promises to drastically cut the current 1.5–2 hour road commute to a matter of minutes.The line will feature a mix of underground, elevated and at-grade stretches — running underground from Kanjurmarg to Ghansoli, before shifting to elevated tracks up to Badlapur. Key stations under consideration include Kanjurmarg, Vikhroli, LBS Marg, Chikoli, Shil Phata, Mahape, Ghansoli, Airoli..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?