The US court accuses the Adani Group of paying $250 million in bribes to the Indian government

In the wake of the allegations, Adani Group said in an exchange filing that it had decided to drop its $600 million bond offering.

“The United States Department of Justice and the United States Securities and Exchange Commission issued a criminal indictment and filed a civil complaint, respectively, in the United States District Court for the Eastern District of New York against members of our board, Gautam Adani and Sagar Adani,” the group said.

“The United States Department of Justice has also included our Board member Vneet Jaain in such a criminal indictment. In light of these developments, our subsidiaries have currently decided not to proceed with the proposed USD bond offerings,” it added.

This came as shares in the Adani Group’s listed firms fell between 10 and 20 percent on Thursday, November 21, following allegations of bribery.