BR100 Decreased By (-0.26%)
BR30 Decreased By (-0.53%)
KSE100 Decreased By (-0.29%)
KSE30 Decreased By (-0.22%)
AGHA 6.56 Decreased By ▼ -0.11 (-1.65%)
BECO 4.40 Increased By ▲ 0.05 (1.15%)
BML 55.89 Decreased By ▼ -0.28 (-0.5%)
BOP 30.05 Decreased By ▼ -0.07 (-0.23%)
CNERGY 12.75 Decreased By ▼ -0.23 (-1.77%)
CSIL 5.21 Decreased By ▼ -0.10 (-1.88%)
FCCL 51.00 Decreased By ▼ -0.65 (-1.26%)
FFL 14.43 Decreased By ▼ -0.06 (-0.41%)
FNEL 1.22 Increased By ▲ 0.01 (0.83%)
KEL 5.97 Decreased By ▼ -0.09 (-1.49%)
KOSM 5.58 Decreased By ▼ -0.26 (-4.45%)
LOTCHEM 26.15 Decreased By ▼ -0.02 (-0.08%)
MLCF 90.33 Decreased By ▼ -0.90 (-0.99%)
NBP 161.45 Decreased By ▼ -2.74 (-1.67%)
NCPL 52.55 Decreased By ▼ -0.63 (-1.18%)
NPL 57.98 Decreased By ▼ -1.14 (-1.93%)
OGDC 315.40 Increased By ▲ 2.01 (0.64%)
PACE 9.70 Decreased By ▼ -0.07 (-0.72%)
PAEL 34.73 Decreased By ▼ -0.51 (-1.45%)
PIBTL 14.23 Decreased By ▼ -0.48 (-3.26%)
PPL 221.00 Decreased By ▼ -0.36 (-0.16%)
PRL 90.89 Decreased By ▼ -0.33 (-0.36%)
PTC 59.25 Increased By ▲ 0.06 (0.1%)
SSGC 23.39 Increased By ▲ 0.09 (0.39%)
TBL 8.65 Decreased By ▼ -0.10 (-1.14%)
TELE 7.40 Decreased By ▼ -0.21 (-2.76%)
TPL 21.00 Decreased By ▼ -1.03 (-4.68%)
TPLP 12.02 Decreased By ▼ -0.54 (-4.3%)
TREET 21.33 Decreased By ▼ -0.40 (-1.84%)
TRG 54.35 Decreased By ▼ -1.44 (-2.58%)
By

Representatives for Indian billionaire Gautam Adani and his companies met officials from U.S. President Donald Trump’s administration to seek dismissal of the criminal charges against him in an overseas bribery probe, Bloomberg News reported on Sunday, citing people familiar with the matter.

The talks, which began earlier this year, gained momentum in recent weeks and could yield a resolution in the coming month or so, if the pace persists, according to the report.

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

The SEC summoned Adani and his nephew, alleging they paid millions in bribes to Indian officials while misrepresenting antibribery compliance during a $750 million Adani Green Energy bond offering.

Adani’s representatives are trying to make the case that his prosecution does not align with Trump’s priorities and should be reconsidered, Bloomberg News reported.

India to deliver US summons to Adani for alleged bribery

An Adani Group representative, spokespeople for the Justice Department and White House declined comment to Bloomberg on the report.

The Adani Group, the White House, and the U.S. DOJ did not immediately respond to Reuters’ requests for comments.

Late last month, Adani Green said its review of the U.S. indictment found no non-compliance or irregularities.

Comments

Comments are closed for this article.