The US has charged one of India’s richest men, Gautam Adani, with fraud alleging a $250 million bribery scheme. This statement shook the Indian market, were Adani shares fell by over 25%. The story is that SECI – Solar Energy Corporation of India, bought solar power from Adani at a expensive rate. They were not able to sell the same to states, so Adani bribed Government officials of 2000 Crore, so that they would buy electricity at a high rate. Now the US securities and exchange commission has accused Adani of these bribery charges because Foreign Corrupt Practices Act allows for the same. Also Adani Greens had raised 175 million dollars from US Market, which makes them a direct stakeholder.
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