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SHIRSENDU KARMAKAR
Adani indictment may test Trump's desire to keep India in US orbit For India in particular, the charges against Adani only reinforces its strategy to keep a foot in both major camps, staying friendly with the US while also keeping up good ties with Russia, China In 2018, the arrest of an executive with Chinese tech giant Huawei Technologies Co for breaching US laws shocked President Xi Jinping’s inner circle and raised questions over whether Donald Trump would intervene in the case. Trump now faces a similar dilemma after US prosecutors charged Gautam Adani — India’s most powerful businessman and a close ally of Prime Minister Narendra Modi — in a $250 million bribery scheme. While Modi’s party called it a private matter, and Adani’s company denied the allegations, the case threatens to roil US-India diplomatic ties. ©SHIRSENDU KARMAKAR #Adani
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Adani CFO defends against US charges, says linked to one business contract Group CFO Jugeshinder Singh sought to defend allegations saying none of Adani's 11 public companies 'are subject to indictment' or 'are accused of any wrongdoing in the said legal filing' A US bribery indictment of Indian billionaire Gautam Adani is linked to one contract of Adani Green Energy comprising some 10 per cent of its business, and none of the conglomerate's other companies are accused of wrongdoing, the group's CFO said on Saturday. On Wednesday, Gautam Adani, one of the world's richest men, and seven others were indicted for fraud by US prosecutors over their alleged roles in a $265 million scheme to bribe Indian officials to secure power-supply deals. ©SHIRSENDU KARMAKAR #Adani
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Adani Power further cuts Bangladesh power supply over payment dispute Late on Thursday, supply was further reduced to about 520 MW, according to Power Grid Bangladesh data and an official with the Bangladesh Power Development Board (BPDB) India's Adani Power has further reduced electricity supply to neighbouring Bangladesh as it seeks to recover more than $800 million in dues, according to data from Bangladesh's grid operator and two sources familiar with the move. Adani Power, which exports power to Dhaka from its dedicated 1,600 megawatt (MW) Godda plant in eastern India's Jharkhand state, had reduced supply this month to 700 MW-750 MW from around 1,400-1,500 MW in early August. Late on Thursday, supply was further reduced to about 520 MW, according to Power Grid Bangladesh data and an official with the Bangladesh Power Development Board (BPDB). ©SHIRSENDU KARMAKAR #Adani
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