In March, the company told stock exchanges that it was not aware of any investigation against it in the US. The DoJ indictment unsealed on Wednesday says this is not true.
The Securities Exchange Board of India is likely to investigate the Adani group’s renewable energy company, Adani Green Energy Ltd, over a false disclosure to the stock exchanges in the country, says a person with direct knowledge of the matter, asking not to be identified.
The US Department of Justice, in the indictment unsealed late on Wednesday, said Adani Green Energy had not only concealed an ongoing investigation against senior executives in the US, but also lied about knowledge of any such investigation in its disclosures to the Indian stock exchanges.
“This is something we need to ask exchanges and …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi
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