The US indictment alleging bribery for solar contracts by the company’s promoters and management has activated many potential issues in loan agreements signed by the renewables major.
Amid the news that billionaire Gautam Adani and other executives have been indicted in a US court, Reuters reported that multiple global banks were considering pausing additional credit to renewable energy firm Adani Green Energy. Additionally, the report said they are now examining their loan agreements with the company’s subsidiaries to determine if any terms had been breached.
Now, a senior banker who was formerly in the debt side of a bank that has exposure to the Adani group has told The Morning Context, on condition of anonymity, that AGEL did not inform its lenders about an ongoing investigation against …
Abir investigates corruption and white-collar crime, with a focus on finance, infrastructure, energy and the environment. He started his career as a reporter at the Economic and Political Weekly. Prior to The Morning Context, he wrote freelance for publications in India and abroad.
Editor, Investigations
abir@mailtmc.com
Delhi