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

25 Nov 2024 CW Team

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)

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..