Amid the controversies, there was a jump in the share prices of Adani Group companies in early trading on Wednesday. Shares rose 7.71 percent. During early trading this morning on Bombay Stock Exchange i.e. BSE, shares of Adani Energy Solutions rose 7.71 percent, Adani Power rose 5.96 percent, Adani Total Gas rose 4.70 percent, Adani Green Energy rose 4.34 percent and Adani Enterprises rose 4.15 percent. According to PTI news, Adani Wilmar rose by 2.78 percent, Ambuja Cements by 1.92 percent, Adani Ports by 1.67 percent, Sanghi Industries by 1.71 percent and ACC by 1.37 percent.
The company has been charged with securities fraud
According to the news, the shares of all Adani Group companies had fallen on Tuesday. On that day, the shares of Adani Green Energy had fallen the most by seven percent. Meanwhile, Adani Green Energy Ltd on Wednesday said billionaire Gautam Adani and his nephew Sagar Adani have not been charged with any violation of the US Foreign Corrupt Practices Act (FCPA) in an alleged bribery case. The company said he has been charged with securities fraud, which includes the imposition of a monetary penalty.
The news of FCPA violation allegation is wrong
Adani Green Energy Limited informed the stock market on Wednesday that the reports claiming that these three have been accused of FCPA violations are false. They have been charged with offenses punishable with fine or punishment. According to the Company, Gautam Adani, Sagar Adani and Vineet Jain have not been charged with any violations of the FCPA as set forth in the US Department of Justice indictment or the US SEC civil complaint.
While sharing information with the stock exchange, the company said that three charges have been leveled against the directors of the company in the criminal indictment. He is charged with conspiracy to commit securities fraud, conspiracy to commit wire fraud, and securities fraud. Adani Group denied all the allegations and said that it would take all possible legal help for its defence.
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