Adani Group Denies US Probe Allegations, Asserts Compliance with Anti-Bribery Laws

The conglomerate faces scrutiny over alleged bribery for favorable treatment in India, leading to a significant drop in bonds and shares.

Adani Group denies allegations of bribery following a Bloomberg report, stating it has not received any notice from the US Department of Justice.
US prosecutors are reportedly investigating whether Adani Group engaged in bribery for favorable treatment on an energy project in India.
Adani Group asserts it is fully compliant with anti-corruption and anti-bribery laws in India and other countries.
Following the report, several of Adani Group's dollar bonds and shares declined, marking the most significant drop in over six months.
Investor sentiment towards Adani Group has been improving, with the conglomerate's market value more than doubling from last year's lows despite ongoing investigations.