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Andhra Pradesh mulls next steps on Adani, if power deal can be scrapped

November 26, 2024

Corruption

HYDERABAD, Nov 26 (Reuters) – India’s Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters. U.S. authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Indian government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, between 2021 and 2022. Most of the alleged bribes – $228 million

What you need to know about Adani’s U.S. bribery indictment

November 25, 2024

Corruption

BENGALURU, Nov 25 (Reuters) – Indian billionaire Gautam Adani has been indicted by U.S. prosecutors for his alleged role in a $265 million scheme to bribe Indian officials, sending shockwaves across his eponymous ports-to-soybeans business conglomerate. Here is what you need to know about the U.S. indictment. THE MAJOR U.S. INDICTMENT Gautam Adani, one of world’s richest people, faces his biggest challenge after being charged with seven others for alleged bribery related to power supply deals from energy projects in India, with U.S. authorities calling it “The Corrupt Solar Project”. Adani Group, which runs several key infrastructure projects across the

853 IRS officers took retirement under VRS in last 10 years: Minister of State for Finance

November 25, 2024

Retirement

New Delhi, Nov 25 (PTI) A total of 853 Indian Revenue Service (IRS) officers have taken VRS in the last 10 years, Parliament was informed on Monday. Of this, 383 IRS (Income Tax) officers and 470 IRS (Customs & Indirect Taxes) officers have taken retirement under VRS during 2014-2024, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha. In a separate reply, he said 2,746.49 kg of gold has been seized at airports in Kerala by Customs department and DRI during FY20 to FY25 (up to October 31, 2024). The seized gold is

Adani Green plunges 11% after TotalEnergies says it will make no new financial contribution to Adani Group investments

November 25, 2024

Finance

Nov 25 (Reuters) – Shares of Adani Green Energy, plunged 11.3% on Monday after TotalEnergies said it would not make any new financial contributions as part of its investments into the Adani group of companies amid a U.S. federal indictment against the head of the company and his nephew.