Adani Group in Crisis: $30 Billion Wiped Out after US Bribery and Fraud Charges Emerge

News Network
November 21, 2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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coastaldigest.com news network
June 14,2025

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Ahmedabad, June 14: The death toll from the tragic Air India plane crash in Ahmedabad has climbed to 270, officials confirmed on Saturday. Grieving families are expressing growing anguish over delays in the identification and release of remains, many of which were severely charred in the inferno.

A senior hospital official told reporters that at least 270 bodies have been recovered so far from the wreckage.

The Boeing 787-8 Dreamliner, carrying 242 passengers and crew members on a flight to London’s Gatwick Airport, plunged shortly after takeoff on Thursday. The aircraft lost altitude rapidly and exploded into a fireball as it struck several buildings below.

In a particularly devastating blow, the aircraft crashed into a medical college hostel, killing dozens of students along with other civilians. Only one person is reported to have survived the crash, making this the deadliest aviation disaster globally in over a decade.

Authorities continue efforts to identify victims and investigate the cause of the crash, while mourning families wait in anguish for news and closure.

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News Network
June 10,2025

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New Delhi: India’s population is projected to reach 1.46 billion in 2025, maintaining its status as the world's most populous nation, according to a new UN demographic report. However, the report highlights a significant demographic shift: India's total fertility rate has fallen below the replacement level.

The 2025 State of World Population (SOWP) Report, titled The Real Fertility Crisis, published by the United Nations Population Fund (UNFPA), urges a shift from concerns about declining fertility rates to addressing unmet reproductive goals. 

It asserts that millions of people cannot achieve their desired fertility outcomes, which poses a greater challenge than underpopulation or overpopulation. The solution, the report suggests, lies in greater reproductive agency—ensuring individuals have the freedom to make informed choices about sex, contraception, and family planning.

Key Findings

•    India’s total fertility rate has declined to 1.9 births per woman, below the replacement level of 2.1. This indicates that, on average, women are having fewer children than needed to maintain population levels over generations, without migration.

•    Despite this trend, India’s youth population remains significant, with:

o    24% aged 0-14
o    17% aged 10-19
o    26% aged 10-24

•    The working-age population (15-64 years) constitutes 68% of the total population, presenting a potential demographic dividend—provided it is met with adequate employment opportunities and policy support.

•    The elderly population (65 and older) currently stands at 7%, and is expected to rise as life expectancy improves.

•    As of 2025, life expectancy at birth is projected to be 71 years for men and 74 years for women.

India's Demographic Transition

According to UN estimates, India's current population is approximately 1.463 billion. While India is now the world's most populous country, projections indicate that the number will continue to grow to around 1.7 billion before gradually declining—a shift expected in about 40 years.

The report highlights how demographic change is influenced by the choices and constraints experienced by millions of couples. While some families actively decide to start or expand their households, others face limited autonomy in reproductive decisions.

In 1960, India's population was 436 million, and the average woman had nearly six children. At the time, fewer than 25% of women used contraception, and less than half attended primary school (World Bank Data, 2020). Over the following decades, educational attainment increased, healthcare access improved, and more women gained decision-making power over their reproductive lives. Today, the average fertility rate is approximately two children per woman.

However, the report emphasizes that despite progress, women in India—and across the globe—still face barriers in achieving full reproductive autonomy. The nation remains part of a group of middle-income countries undergoing rapid demographic shifts, with its population doubling time now estimated at 79 years.

Expert Insights

"India has made remarkable strides in reducing fertility rates—from nearly five children per woman in 1970 to about two today, thanks to better education and expanded reproductive healthcare, leading to significant reductions in maternal mortality," said Andrea M. Wojnar, UNFPA India Representative.

"This progress means millions more mothers are alive today, raising children and strengthening communities. Yet, deep inequalities persist across states, castes, and income groups.

"The real demographic dividend comes when individuals have the freedom and resources to make informed reproductive choices. India has a unique opportunity to demonstrate how reproductive rights and economic prosperity can advance in tandem," Wojnar added.

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coastaldigest.com news network
June 13,2025

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Mangaluru, June 13: A pall of grief has descended over Kuthar in Mangaluru after a heart-wrenching tragedy claimed the life of a young girl full of promise and dreams. Hiba Aiman, just 15 years old, died on Thursday night, June 12, after falling from the balcony of her 12th-floor apartment in a high-rise residential complex under Ullal police station limits.

Hiba was the beloved daughter of local doctor couple Dr. Mamtaz Ahmad and Dr. Qamarzaha Banu. The family, known in the community for their service and warmth, lived on the 12th floor of the 18-storey building.

According to initial reports, the incident occurred when Hiba was reportedly hanging clothes in the balcony. In what appears to be a tragic accident, she lost her balance and fell, leading to her untimely demise.

A Class 10 student at a private school, Hiba was known to be bright, kind-hearted, and full of life. Her sudden passing has left not just her family but the entire neighbourhood in shock and mourning.

Ullal police have launched an investigation and are examining all aspects surrounding the incident to rule out any other possibilities.

As the community gathers around the grieving family, prayers pour in for young Hiba—a life lost too soon, leaving behind silence where once there was laughter. 
 

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