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For the second time in two years, the Adani Group, one among India’s largest conglomerates, has been accused of legal exercise from the opposite aspect of the globe. The primary barrage got here from Hindenburg Analysis, a short-seller in New York which accused the group of fraud final 12 months. The second got here on November twentieth, when federal prosecutors in New York filed a 54-page indictment in opposition to Gautam Adani, chairman of the group and one among India’s richest males, alongside together with his nephew, Sagar Adani, and 6 others. The prosecutors allege that “senior executives and administrators” engaged in a scheme “to pay over $250m in bribes to Indian authorities officers, to misinform traders and banks to boost billions of {dollars}, and to impede justice,” in response to Lisa Miller, the deputy assistant attorney-general for the case.
