ADANIPORTS

Sept 19 (Reuters) - Adani Group stocks gained between 1% and 9.6% on Friday, a day after India's markets regulator dismissed short-seller Hindenburg Research's allegations of stock manipulation against billionaire Gautam Adani and his group.

Adani Power ADAN.NS led gains among the nine entities with its 9.6% climb. Adani Enterprises ADEL.NS, the flagship firm, rose 4.4%.

(Reporting by Anuran Sadhu and Kashish Tandon in Bengaluru; Editing by Harikrishnan Nair)

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Adds responses in paragraph 4,5 and context 6,8,9

By Jayshree P Upadhyay

Mumbai, Sept 18 (Reuters) - The Securities and Exchange Board of India on Thursday dismissed allegations of stock manipulation against billionaire Gautam Adani and his group of companies made by U.S. short-seller Hindenburg Research.

SEBI began investigating Adani Group companies, including Adani Ports APSE.NS, Adani Power ADAN.NS and Adani Enterprises, in 2023 after Hindenburg accused them of using tax havens and failing to disclose transactions between related parties.

While the conglomerate denied wrongdoing, the accusations led to a $150-billion sell-off of the group's stock. The shares have since recovered.

"SEBI has reaffirmed what we have always maintained, that the Hindenburg claims were baseless. Transparency and integrity have always defined the Adani Group," Gautam Adani, chairman of Adani Group, said on X.

In January, Hindenburg Research founder Nathan Anderson announced he would disband the firm, citing the immense work toll. Reuters has reached out on the firm's and its founder's last known email addresses.

Short-sellers like Anderson bet against companies they believe have accounting issues, mismanagement or fraud, which they find usually after a long period of investigation.

The regulator had investigated the Adani conglomerate, its founders, offshore funds that invested in the company on 24 separate sets of violations, including insider trading, stock price manipulation and non-disclosure of related-party transactions.

SEBI said that the transactions between Adani group companies and companies flagged by Hindenburg could not be called related-party transactions and therefore did not violate regulatory norms on disclosures or constitute market manipulation.

In its report in January 2023, Hindenburg had alleged that Adani Ports & Special Economic Zone Ltd., Adani Power Ltd. and Adani Enterprises Ltd. had structured transactions with three other unrelated companies in a manner to conceal that they were actually between connected parties and ought to have been disclosed to investors.

The regulator dismissed these allegations and said that according to SEBI rules, these transactions did not happen between connected entities and hence did not require disclosures or the consent of minority investors.

The transactions happened in between April 2012 and March 2021 and SEBI had widened the ambit of disclosures of transactions between connected entities in 2022 and cannot apply its rules retroactively, the regulator noted.

(Reporting by Nishit Navin; Editing by Tasim Zahid, Joe Bavier and Ros Russell)

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By Krishna N. Das and Uditha Jayasinghe

COLOMBO, Sept 17 (Reuters) - India's Adani Group and its partners are set to double the capacity of a $840 million container terminal in Colombo months ahead of schedule, despite relinquishing $553 million in U.S. funding, an executive at partner firm John Keells Holdings JKH.CM told Reuters.

The deepwater Colombo West International Terminal, located next to a facility run by China Merchants Port Holdings 0144.HK, underscores Sri Lanka's geopolitical significance in the tug-of-war for Indian Ocean influence between New Delhi and Beijing.

Adani opened the first phase of the fully automated terminal in April, making it operational. The second and final phase is underway and expected to be completed by late 2026, three to four months ahead of the February 2027 deadline, said Zafir Hashim, head of transportation at John Keells.

The accelerated timeline, which has not been previously reported, was unexpected in the wake of Sri Lanka's deep financial crisis that brought foreign investment in the country to a virtual standstill.

Once the final phase is complete, the terminal will have the capacity to handle 3.2 million containers annually, Hashim said, boosting the overall throughput of the port in Colombo.

The largest chunk of business flowing through the terminal originates in India.

In December, Adani withdrew its funding request from the U.S. International Development Finance Corp, opting to finance the project through internal accruals and a capital management plan.

The move came after U.S. authorities accused Adani Group Chairman Gautam Adani and others of involvement in a bribery scheme - allegations the group has dismissed as baseless.

"Working with Adani, we really haven't seen anything to worry about," Hashim said at his office in a heritage building in the heart of Colombo.

"And until something is proven, we are partners and there is nothing for us to sort of comment on. They have been a very good partner to work with."

Adani Ports and Special Economic Zone APSE.NS holds a 51% stake in the terminal, John Keells owns 34%, and the Sri Lanka Ports Authority holds the remainder.

Sri Lanka is also exploring further investments from Adani in renewable energy, Energy Minister Kumara Jayakody told Reuters, despite some disagreements earlier this year.

An Adani spokesperson did not respond to a request for comment.

In February, Adani withdrew from two proposed wind power projects worth $1 billion after the newly elected government of President Anura Kumara Dissanayake sought to renegotiate the power purchase rate.

The projects, approved under the previous administration without competitive bidding, faced scrutiny over environmental and transparency concerns.

"Adani pulled out because the government felt the tariff that was offered by them or asked by them was excessive and the government was ready to negotiate," said Arjuna Herath, chair of Sri Lanka’s Board of Investment.

"But Adani was of the view that they could not accept a lower tariff than what they proposed."

Jayakody said Adani later purchased bid documents for two smaller wind projects totalling 100 MW but ultimately did not bid. Still, it was a sign of their renewed interest, he said.

"We have no issues with Adani just because they pulled out," Herath said. "Adani is doing very well in the West Terminal project, and we are very happy."

(Reporting by Krishna N. Das and Uditha Jayasinghe in Colombo; Editing by Saad Sayeed)

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NEW DELHI, Sept 11 (Reuters) - India's Adani group has stopped accepting vessels that are sanctioned by the European Union, U.S. and Britain at all of its ports, sources said and orders issued by Adani Ports and Logistics show.

No immediate comment was available from Adani.

(Reporting by Nidhi Verma)

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Aug 20 (Reuters) -

• ADANI UNITS RAISE $275 MILLION OFFSHORE DEBT FROM GLOBAL LENDERS- BLOOMBERG NEWS

Source text: https://tinyurl.com/bddshh3m

Further company coverage: ADEL.NS

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Aug 5 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS Q1 CONSOL NET PROFIT 33.15 BILLION RUPEES

• ADANI PORTS Q1 CONSOL REVENUE FROM OPERATIONS 91.26 BILLION RUPEES

• ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - GAUTAM S. ADANI RE-DESIGNATED AS NON-EXECUTIVE CHAIRMAN

• ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - MANISH KEJRIWAL APPOINTED AS ADDITIONAL DIRECTOR FOR 3 YEARS

Source text: [ID:]

Further company coverage: APSE.NS

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July 2 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS - HANDLES 41.3 MMT IN JUN’25

• ADANI PORTS - Q1 FY26 VOLUME STOOD AT 120.6 MMT

Source text: ID:nnAZN42QILK

Further company coverage: APSE.NS

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June 20 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• SUBSIDIARY TO DIVEST 49% STAKE IN VERACITY

• ADANI LOGISTICS TO RETAIN 1% STAKE IN VERACITY

• UNIT ENTERS INTO JV TERMINATION AGREEMENT WITH RIDDHI INFOCOM SOLUTIONS

Source text: ID:nBSE2VGlGH

Further company coverage: APSE.NS

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June 3 (Reuters) - Shares of India's Adani Group firms fell between 1% and 2.5% on Tuesday, a day after the Wall Street Journal reported that U.S. prosecutors were probing whether Adani entities had imported Iranian LPG into India through their Mundra port.

An Adani spokesperson called the report "baseless and mischievous" in a statement, adding: "We are not aware of any investigation by U.S. authorities on this subject."

Shares in the group's flagship firm Adani Enterprises ADEL.NS opened 2.2% lower, while Adani Ports APSE.NS fell 2.5%. Adani Total Gas ADAG.NS, Adani Power ADAN.NS, Adani Green ADNA.NS and Adani Energy Solutions ADAI.NS were down between 1% and 2%.

India's benchmark Nifty 50 index .NSEI was down 0.4%, with Adani Enterprises and Adani Ports the top percentage losers.

The WSJ said it had found tankers travelling between the Gulf and billionaire Gautam Adani's Mundra port in western India exhibiting traits that experts say are common for ships evading sanctions.

Reuters could not independently verify the report and the U.S. Department of Justice and the U.S. Attorney's Office in Brooklyn did not respond to requests for comment.

Adani Ports has been the top gainer among Adani Group stocks so far this year, up 16%, while Adani Total has been the top loser, down 11%.

(Reporting by Sethuraman NR; Editing by Mrigank Dhaniwala)

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By Dharamraj Dhutia

MUMBAI, May 28 (Reuters) - Adani Ports and Special Economic Zone APSE.NS, India's largest private port operator, plans to raise as much as 50 billion rupees through the sale of bonds maturing in 15 years, two merchant bankers said on Wednesday.

The company is likely to offer a coupon of around 7.75% on the issue and invite bids on Friday, the bankers said, requesting anonymity as they are not authorised to speak to the media.

The group did not immediately respond to Reuters' email seeking comments.

On May 22, the company's board approved raising up to 60 billion rupees through bond sales.

The notes are rated AAA by Crisil and Care.

(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)

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Changes date; Adds Adani Green's response in paragraph 6, updates stock moves in paragraph 9

May 5 (Reuters) - Representatives for Indian billionaire Gautam Adani met officials from U.S. President Donald Trump's administration to seek dismissal of criminal charges in an overseas bribery probe, with a resolution possible in a month, Bloomberg News reported.

In November, U.S. authorities indicted Adani and his nephew, Sagar Adani, alleging they paid bribes to secure power supply contracts, and misled U.S. investors during fund raises there.

The U.S. financial regulator summoned the duo, alleging they misled investors on compliance during a $750 million Adani Green ADNA.NS bond sale in the United States.

The billionaire's aides are trying to make the case that his prosecution does not align with Trump's priorities and should be reconsidered, Bloomberg News reported on Sunday, citing sources familiar with the matter.

The discussions began earlier this year and have picked up in recent weeks, with a resolution possible within a month if the momentum continues, the report said.

Adani Green, in a statement on Monday, reiterated it was not part of any proceedings, but it did not directly comment on the report about the meetings. It had recently said its review of the indictment found no non-compliance or irregularities.

The Justice Department and White House declined comment to Bloomberg on the report and did not respond to Reuters for comment outside business hours.

Adani Enterprises, the group's flagship firm, also did not respond to a request for comment. The group has previously denied any wrongdoing.

Shares of Adani Group's nine Indian listed companies rose between 1.7% and 10.5% on Monday, amid a 0.6% increase in the broader market.

The indictment has erased about $13 billion in market value from Adani Group's nine listed firms.

(Reporting by Bipasha Dey, Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)

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BENGALURU, May 1 Reuters - Diary of India economic, corporate events on May 1

ECONOMIC, CORPORATE .BSE500 EVENTS:

(Compiled by Bengaluru Newsroom)

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April 17 (Reuters) -

• GAUTAM ADANI WILL TRANSFER OWNERSHIP OF AN AUSTRALIAN PORT TERMINAL TO HIS LISTED COMPANY IN A DEAL WORTH ABOUT $2.4 BILLION- BLOOMBERG NEWS

Source: https://tinyurl.com/3tjxkhdv

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April 7 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS: ADANI'S COLOMBO TERMINAL COMMENCES OPERATIONS

Source text: ID:nBSE8d8ClW

Further company coverage: APSE.NS

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April 2 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - HANDLES RECORD CARGO VOLUME IN MAR'25

• ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - HANDLES 41.5 MMT CARGO IN MAR'25, UP 9% YOY

Source text: ID:nBSE6GJJlX

Further company coverage: APSE.NS

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Feb 21 (Reuters) - Adani Enterprises Ltd ADEL.NS:

• ADANI PORTS MD: ADANI GROUP TO INVEST 55 BILLION RUPEES TO EXPAND THE TRIVANDRUM INTERNATIONAL AIRPORT

Source text: [ID:]

Further company coverage: ADEL.NS

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Feb 7 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS - GOT TAX ORDER FOR PENALTY OF 245.7 MILLION RUPEES

Source text: [ID:]

Further company coverage: APSE.NS

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Feb 4 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - HANDLES MONTHLY CARGO VOLUME OF 39.9 MMT IN JANUARY

Source text: ID:nBSE5bSMRB

Further company coverage: APSE.NS

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Jan 30 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS - FY25 EBITDA GUIDANCE INCREASED TO 188-189 BILLION RUPEES

• ADANI PORTS SEES FY25 CAPEX 105-115 BILLION RUPEES

• ADANI PORTS- MANAGEMENT BELIEVES BALANCE OF TWO SEBI INVESTIGATIONS HAVE BEEN CONCLUDED

• ADANI PORTS - SEES FY25 REVENUE AT 290-310 BLN RUPEES

• ADANI PORTS - SEES FY25 CARGO AT 460-480 MMT

Source text: ID:nBSEc421Kk

Further company coverage: APSE.NS

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Jan 3 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS - APSEZ HANDLES 38.4 MMT OF CARGO IN DEC ’24

Source text: ID:nnAPN2INGLJ

Further company coverage: APSE.NS

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Dec 27 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - PLACES ORDER FOR 8 TUGS WORTH 4.50 BILLION RUPEES

• ADANI PORTS - PROCUREMENT OF EIGHT STATE-OF-THE-ART HARBOUR TUGS

• ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD - ORDER TO INCREASE ADANI'S FLEET TO 152 TUGS

• ADANI PORTS - PLACES ORDER FOR 8 TUGS WITH COCHIN SHIPYARD

Source text: ID:nNSE5z9WXy

Further company coverage: APSE.NS

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COLOMBO, Dec 18 (Reuters) - Sri Lanka is unconcerned about the Adani Group's dealings with other countries and only focused on its $1 billion worth of projects in the island nation, President Anura Kumara Dissanyake told Indian media during an official visit to Delhi this week.

Dissanayake was on his first state trip to Sri Lanka's powerful neighbour after winning the presidency in September and securing a landslide parliamentary election victory last month.

Sri Lanka is "concerned about our investments, our development," he told The Economic Times in an interview published on Wednesday.

"We will be looking at how they have worked in our country. If they have worked in a manner that suits us, fits our initiatives, we don't mind working with Adani Group."

Sri Lanka decided to review two projects worth about $1 billion linked to the Adani Group after U.S. authorities last month accused Adani Group Chairman Gautam Adani and seven others of being part of a $265 million scheme to bribe Indian officials, and of misleading U.S. investors while raising funds there.

The ports-to-power conglomerate has termed the allegations "baseless" and said it would seek "all possible legal recourse".

India's Adani Green Energy Ltd. ADNA.NS has plans to invest $442 million in two wind power stations in Sri Lanka and Adani Ports APSE.NS. will also fund a $553 million terminal project at the Colombo port.

Dissanayake will be visiting China, the island's biggest bilateral creditor, in January, The Hindu reported.

India extended more than $4 billion in aid to Sri Lanka when the island nation's economy plunged into a severe financial crisis in 2022 and entered into a preliminary debt restructuring agreement, along with other bilateral creditors Japan and China, in July.

(Reporting by Uditha Jayasinghe; Editing by Raju Gopalakrishnan)

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Adds details of joint statement from paragraph 2

NEW DELHI, Dec 16 (Reuters) - India plans to supply liquefied natural gas to Sri Lanka's power plants and will work on connecting the power grids of the two countries as well as lay a petroleum pipeline between the neighbours, Indian Prime Minister Narendra Modi said on Monday.

Modi was speaking at a joint press briefing with Sri Lankan President Anura Kumara Dissanayake in New Delhi.

Dissanayake is on his first official visit to Sri Lanka's powerful neighbour after winning the presidency in September and securing a landslide parliamentary election victory last month.

Indian state-run firm Petronet LNG PLNG.NS has signed a deal to supply liquefied natural gas to Sri Lankan engineering firm LTL Holdings' power plants in Colombo for five years through its terminal in the southern Indian city of Kochi.

Both sides also discussed a plan to connect power grids and lay a multi-product petroleum pipeline between the two countries, a joint statement from the Indian External Affairs Ministry said.

The two countries also agreed to jointly develop offshore wind power potential in the Palk Straits, an area where India's Adani Green Energy Ltd. ADNA.NS already has plans to invest $442 million in two wind power stations.

Sri Lanka is reviewing the wind power project along with a $553 million terminal project at the Colombo port also linked to Adani Ports APSE.NS. But it was unclear if the projects were discussed during the meeting between Modi and Dissanayake.

Last month, U.S. authorities accused Adani Group Chairman Gautam Adani and seven others of being part of a $265 million scheme to bribe Indian officials, and of misleading U.S. investors while raising funds there.

The ports-to-power conglomerate has termed the allegations "baseless" and said it would seek "all possible legal recourse".

India extended more than $4 billion in aid to Sri Lanka when the island nation's economy plunged into a severe financial crisis in 2022 and entered into a preliminary debt restructuring agreement, along with other bilateral creditors Japan and China, in July.

The two countries will now finalise discussions on the bilateral memorandum of understanding needed to complete the debt restructuring process, the joint statement added.

(Reporting by Shanima A in Mumbai and Shivam Patel in New Delhi; Editing by YP Rajesh)

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Dec 10 (Reuters) - Adani Ports and Special Economic Zone Ltd APSE.NS:

• ADANI PORTS - CWIT PROJECT IN SRI LANKA WILL BE FINANCED THROUGH CO'S INTERNAL ACCRUALS AND CAPITAL MANAGEMENT PLAN

• ADANI PORTS - WITHDRAWN OUR REQUEST FOR FINANCING FROM THE DFC

Source text: ID:nBSE7cm5Zx

Further company coverage: APSE.NS

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Dec 9 (Reuters) - Indian conglomerate Adani Group will invest over 7.5 trillion rupees ($88.53 billion) in various sectors like renewable energy and cement in the northern state of Rajasthan, Karan Adani, managing director of Adani Ports APSE.NSm, said on Monday at an investment summit.

($1 = 84.7200 Indian rupees)

(Reporting by Sethuraman NR; Editing by Sonia Cheema)

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Adds details, background

Dec 3 (Reuters) - Several entities linked to the Adani Group have approached the India markets regulator seeking to settle a case that accuses them of violating public shareholding regulations at some listed companies, the Economic Times reported on Tuesday.

The Securities and Exchange Board Of India (SEBI) had sent notices to Adani Enterprises ADEL.NS, the group's flagship company, as well as Adani Power ADAN.NS, Adani Ports APSE.NS and Adani Energy ADAI.NS alleging they had wrongfully categorised the shareholding of certain entities.

The groups' breaches of a minimum public shareholding requirement date back to 2020 and the SEBI had sought to recover about 25 billion rupees ($295 million) from the entities, ET said.

Adani Enterprises and one of its directors, Vinay Prakash, as well as an Ambuja Cements ABUJ.NS director, Ameet Desai, have proposed a settlement, ET reported.

Another proposal for a 2.8-million-rupees ($33,035) settlement is from Emerging India Focus Funds (EIFF), a Mauritius-based foreign portfolio investor that the SEBI says is linked to Vinod Adani, brother of Adani Group Chairman Gautam Adani, ET said.

The report did not have information regarding other settlement applications.

The proposals were submitted last week in response to a show-cause notice issued by the SEBI on Sept. 27 to about 30 Adani Group entities, the newspaper reported.

The entities have contested the charges in response to the notice and the settlement application is only a precautionary measure, ET added, citing a source.

The Adani Group did not immediately respond to a Reuters request for comment.

Last month, U.S. authorities accused Gautam Adani and some top executives in the Adani Group of being part of a scheme to pay bribes of $265 million to secure Indian power supply contracts and of misleading U.S. investors during fund raises there, charges the group has called "baseless".

($1 = 84.7580 Indian rupees)

(Reporting by Anuran Sadhu and Sethuraman NR in Bengaluru; Editing by Savio D'Souza)

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NEW DELHI, Dec 2 (Reuters) - Both houses of Indian parliament were suspended on Monday after disruptions by opposition groups demanding a discussion on bribery allegations against the Adani Group and communal tensions in a northern town.

Parliament was similarly adjourned for all of last week as opposition parties, led by the main opposition Congress, demanded a discussion on the indictment of Adani chair Gautam Adani by U.S. authorities.

(Reporting by Sakshi Dayal; Editing by YP Rajesh)

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NEW DELHI, Nov 29 (Reuters) - The lower house of India's parliament was suspended temporarily on Friday for a fourth day in a row this week following disruptions as opposition lawmakers sought a discussion on the allegations against Adani Group.

U.S. authorities last week accused Group Chairman Gautam Adani and seven others from the company of being part of a $265 million scheme to bribe Indian officials, and of misleading U.S. investors while raising funds there.

The ports-to-power conglomerate has termed the allegations "baseless" and said it would seek "all possible legal recourse".

(Reporting by Sakshi Dayal; Editing by Kim Coghill)

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Adds quotes, background

NEW DELHI, Nov 28 (Reuters) - Both houses of Indian parliament were suspended temporarily on Thursday within minutes of opening as opposition lawmakers disrupted proceedings for the third day this week seeking a discussion on allegations against the Adani Group.

U.S. authorities have accused Gautam Adani, his nephew Sagar Adani and managing director of Adani Green, Vneet S. Jaain, of being part of a scheme to pay bribes of $265 million to secure Indian solar power supply contracts, and misleading U.S. investors during fund raises there.

"We want a discussion on this in parliament. It is going to be the third day that we are demanding a reply from the prime minister" on the Adani issue, Manickam Tagore, a lawmaker from the main opposition Congress party, which has been leading the protests against the business group, told news agency ANI.

Many of India's opposition parties accuse Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) of favouring Adani and blocking investigations against him in India, accusations both have denied.

Congress leader Rahul Gandhi, who has been a vocal critic of Adani, said Gautam Adani, 62, should be arrested.

While the government has not made any comment on the indictment, Modi's BJP has said it had no reason to defend Adani, adding that the party was not against industrialists and considered them partners in nation-building efforts.

"Let him defend himself," BJP spokesperson Gopal Krishna Agarwal said on Tuesday, adding that the law would take its course.

(Reporting by Shilpa Jamkhandikar; Editing by YP Rajesh)

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Corrects paragraph 4 of Nov. 21 explainer to remove language suggesting that Gautam Adani faces a criminal charge of foreign bribery, independent of the three criminal charges he faces. Corrects paragraph 20 to remove and replace language describing the three charges and potential penalties.

By Jack Queen

Nov 21 (Reuters) - Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world's richest people, could face a long road to trial in the U.S. on criminal charges over his alleged role in a multi-billion-dollar fraud and bribery scheme.

Here’s a look at what’s next for Adani, who is accused of conspiring to pay about $265 million in bribes to Indian government officials to obtain contracts and develop India's largest solar power plant project.

WHAT IS HE CHARGED WITH?

The indictment alleges Adani and his co-defendants agreed to pay more than $250 million in bribes to Indian officials to obtain solar contracts worth an estimated $2 billion over 20 years.

Adani is charged with securities fraud, securities fraud conspiracy and wire fraud conspiracy.

U.S. law allows prosecutors to charge executives with foreign bribery when their companies do business in the U.S. and also gives broad jurisdiction over transactions that pass through U.S. financial institutions.

Prosecutors also allege Adani deceived U.S. investors by covering up the alleged bribes.

HAS ADANI BEEN ARRESTED?

No. If Adani is in India, U.S. prosecutors would need to ask the Indian government to extradite him under the terms of the two countries’ extradition treaty.

That process would be handled by a court in India, which would need to consider several factors including whether the crime he was charged with in the U.S. is also a crime in India, whether the charges are politically motivated or whether he could face inhumane treatment in the U.S.

Adani could fight extradition, and it is unclear how long the process might take. The billionaire is accused of bribing Indian government officials, which could make extradition more politically fraught.

HAS ADANI ENTERED A PLEA YET?

No. Adani has not been arrested and his whereabouts are unknown, though he is believed to be in India. He could not immediately be reached for comment.

In a statement Thursday, Adani Group said the charges were "baseless" and that the company is a "law-abiding organization, fully compliant with all laws."

CAN ADANI DISPUTE THE CHARGES IN COURT?

Yes, but until he appears in U.S. court, Adani's lawyers could only challenge the indictment on procedural grounds, for example by claiming U.S. prosecutors do not have the authority to charge him.

After Adani appears before a U.S. judge, his lawyers could attack the substance of the indictment by arguing the charges are legally deficient or unsupported by the facts.

Defendants generally face an uphill battle getting criminal charges thrown out because prosecutors enjoy the benefit of the doubt in the early stages of a case, and judges are reluctant to dismiss cases before juries have a chance to weigh the facts.

Prosecutors cite extensive evidence of the alleged crimes in the indictment, including in-person meetings with Indian officials and an extensive paper trail of cell phone and messaging app records.

Adani could also strike a plea deal with prosecutors by agreeing to admit to certain crimes in exchange for a lighter sentence, though prosecutors are under no obligation to negotiate. Any deal would also need to be approved by a judge.

WHEN COULD A TRIAL FOR ADANI HAPPEN?

A trial could still be a long way off even if Adani is extradited or surrenders in the U.S.

Adani’s lawyers would be entitled to litigate the admissibility of evidence and other legal questions before a trial could begin, as would lawyers for his seven co-defendants, who could seek separate trials.

Adani would be entitled to a speedy trial within 70 days under U.S. law, though he would likely waive that right to give his lawyers more time to fight the charges.

WHAT PENALTIES COULD ADANI FACE?

Adani could face decades in prison if convicted, but would probably receive far less time. He could also face monetary penalties. Any sentence would ultimately be up to the judge overseeing the case.

A jury of 12 would need to unanimously vote to convict Adani, and he could appeal a verdict against him.

(Reporting by Jack Queen in New York; Additional reporting by Luc Cohen;
Editing by Noeleen Walder)

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