Mumbai, April 1 — Adani Airport Holdings has announced the launch of India's first 'in-terminal' quick commerce service in partnership with Blinkit at Chhatrapati Shivaji Maharaj International Airport in Mumbai.

This service has currently started in the domestic departure area of Terminal-2, providing app-based delivery directly within the airport.

Passengers can order the items they need through the Blinkit app. The goods will be delivered directly to the passenger's location at various points within the airport, including boarding gates, lounges, food courts, and select centers.

A spokesperson for Adani Airport Holdings Limited stated that the app-based service within the terminal will allow passengers to make better use of their time and improve the overall level of services. This initiative aims to make airports more sensitive and focused on the needs of passengers.

The service covers travel-related items, electronic devices, food and beverages, books, childcare products, and other personal necessities.

In compliance with security regulations, liquids such as packaged water and cold beverages will be provided from approved stocks within the airport.

This initiative by Blinkit aims to bring quick commerce services to a busy location where consumer demand and needs are high. It will assist in expanding online services and reaching new customers.

New Delhi, May 30 – Adani Energy Solutions Ltd (AESL) has announced that it has secured an interstate transmission project worth Rs 1,600 crore in Maharashtra, further strengthening its position in India’s power transmission sector.

As per agency report, the company shared that with this latest addition, its total transmission order book has grown to Rs 61,600 crore. The newly awarded project involves the development of an interstate transmission system in Maharashtra, which includes establishing a substation with a capacity of 3,000 mega volt-amperes (MVA), along with other supporting infrastructure.

This project will expand AESL’s transmission network to 26,696 circuit kilometers and raise its transformation capacity to 93,236 MVA. The company is expected to commission the project by January 2028.

AESL secured the project through the tariff-based competitive bidding (TBCB) route under the Interstate Transmission System (ISTS) framework. This initiative aligns with the company's long-term commitment to enhancing India's power infrastructure through sustainable and large-scale transmission projects.

New Delhi, November 21: The Adani Group has strongly refuted allegations made by the US Department of Justice (DOJ) and the US Securities and Exchange Commission (SEC) against its directors in Adani Green Energy. The company called the accusations of bribery unfounded and reiterated its commitment to full compliance with all laws.

In a statement issued on Thursday, a spokesperson for the Adani Group termed the allegations baseless and devoid of facts. "The group has consistently adhered to all applicable laws," the spokesperson asserted. The statement also emphasized, “The US Department of Justice itself has acknowledged that allegations in the indictment remain charges until proven in a court of law. We will pursue all available legal remedies in this matter.”

Background on the Allegations

US prosecutors have alleged that Adani Green Energy directors paid $250 million in bribes to Indian officials to secure favorable terms for solar energy contracts in India. Following these accusations, shares of Adani Group companies witnessed significant declines during trading, resulting in a combined market capitalization loss of ₹2.45 lakh crore for its listed entities.

Adani Group's Response

The group reiterated its position on transparency and compliance. "We categorically deny these allegations. Our operations have always followed legal protocols and regulations," the spokesperson stated.

The accusations have created ripples in the financial markets, impacting investor confidence. The group assured stakeholders of its resolve to contest the charges and uphold its reputation in domestic and international markets.

New Delhi, July 02 (HS). The Securities and Exchange Board of India (SEBI) has sent a show cause notice to US financial research company Hindenburg Research. This notice has been issued on the alleged violation of betting on Adani Group shares. Adani Group was accused of stock manipulation.

Hindenburg Research has informed about receiving SEBI's notice. It has expressed displeasure over the notice. Hindenburg said that efforts are being made to silence those who expose corruption and fraud. It is noteworthy that after accusing Adani Group companies of stock manipulation, the group companies and investors suffered huge losses.

Ahmedabad : AdaniConneX, a 50:50 JV between Adani Enterprises and EdgeConneX, has established India’s largest sustainability linked financing to raise up to USD 1.44 billion. The financing has an initial commitment of USD 875 million, with an accordion feature to extend commitment up to USD 1.44 billion. The transaction elevates AdaniConneX’s construction financing pool to USD 1.65 billion, building on the maiden construction facility of USD 213 million executed in June 2023.

The upcoming data center facilities will employ state-of-the-art technologies and renewable energy solutions to minimise the ecological footprint while optimising operational efficiency. The sustainability-linked financing reinforces AdaniConneX’s commitment towards driving a safety-first culture, delivering world-class Power Usage Effectiveness (PUE) by adopting global best practices, and leveraging renewable energy resources.
A key feature of the facility is the innovative solution of a syndicated guarantee-backed assurance programme in sync with the projects’ procurement strategy.Definitive agreements have been executed with eight international lenders – ING Bank N.V., Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd., Natixis, Standard Chartered Bank, Société Générale and Sumitomo Mitsui Banking Corporation. 

Access to a wide pool of liquidity strengthens the company’s strategy to fast-track the implementation of portfolio assets in sync with accelerating demand. This transformative approach towards financing is a significant step towards building sustainable digital infrastructure that will fuel economic progress and accelerate India’s digital growth. 

“This successful exercise is a testament to the collective resolve of the parties to meet the challenges of establishing sustainable and robust digital infrastructure, thereby pushing norms and setting new industry benchmarks,” said Mr Jeyakumar Janakaraj, CEO of AdaniConneX, “Construction financing is a core element of the AdaniConneX capital management plan, enabling us to deliver a data center solution firmly rooted in sustainability and environmental stewardship. We are delighted to embark on this journey alongside our esteemed international banking partners.”

ING Bank N.V., Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd., Natixis, Standard Chartered Bank, Société Générale and Sumitomo Mitsui Banking Corporation acted as Mandated Lead Arrangers. ING Bank N.V. and MUFG Bank Ltd acted as Structuring Banks whereas ING Bank N.V., MUFG Bank Ltd and Sumitomo Mitsui Banking Corporation acted as Sustainability Co-ordinators.   

Allen & Overy and Saraf & Partners were the borrower’s counsels. The lenders’ counsels were Milbank and Cyril AmarchandMangaldas.

New Delhi, Jan 3 (IANS) Delivering a verdict on a batch of pleas pertaining to Adani-Hindenburg controversy, the Supreme Court on Wednesday cautioned against use of unverified and unrelated material in filing of public interest litigations (PILs).

Cautioning lawyers and members of civil society, a bench presided over by CJI D.Y. Chandrachud said that pleas lacking adequate research and relying on unverified and unrelated material tend to be "counterproductive".

“We must observe that public interest litigation and Article 32 of the Constitution was expanded by this court to secure access to justice and provide ordinary citizens with the opportunity to highlight legitimate cases before the court. It has served as a tool to secure justice and ensure accountability on many occasions where ordinary citizens have approached the court with well researched petitions that highlight a clear cause of action. However, petitions that lack adequate research and rely on unverified and unrelated material tend to be counterproductive,” said CJI Chandrachud, pronouncing the verdict on a batch of PILs seeking independent probe into Adani-Hindenburg row.

The bench, also comprising Justices J.B. Pardiwala and Manoj Misra, held that an unsubstantiated report in the newspapers should not be given credence over an investigation carried out by a statutory regulator but such reports of independent groups or investigative pieces by newspapers may act as “inputs” before the SEBI or expert panel formed by the apex court.

Refusing to transfer the probe to any SIT or group of experts, the Supreme Court said that the reliance placed by petitioners on newspaper articles or reports by third party organisations “does not inspire confidence” to question the comprehensive investigation undertaken by the SEBI.

It held: “The petitioner must place on record the strong evidence indicating that the investigating agency has portrayed inadequacy in the investigation over time or appear to be biased.”

The top court noted that the SEBI has already finalised 22 out of 24 investigations relating to allegations against Adani group of companies and in relation to remaining two cases, the market regulator has sought information from foreign agencies and entities, and will determine future course of action based on receipt of such information.

However, the Supreme Court said that these pending investigations should be completed “expeditiously within a period of three months”.

In November last year, the apex court had taken a stern view of pleas seeking probe into the Life Insurance Corporation (LIC) and the State Bank of India (SBI).

“You are asking the court -- without a shred of evidence -- to direct an investigation into SBI and LIC. Do you realise the impact of such a direction? Is this some debate in college? Do you realise the impact of the investigation direction by the Supreme Court against SBI and LIC on the stability of our financial market?” CJI Chandrachud had remarked.

New Delhi, Jan 3 (IANS) The Supreme Court on Wednesday refused to form any SIT or group of experts to conduct an investigation into the Adani-Hindenburg controversy saying that the media and third party reports were not conclusive proof.

“SEBI should take its investigation to its logical conclusion in accordance with law. The facts of this case do not warrant a transfer of investigation from SEBI,” held a bench presided over by CJI D.Y. Chandrachud.

Taking note of the submission made by Solicitor General Tushar Mehta that 22 out of 24 investigations relating to allegations against Adani group of companies have already been finalised, the bench, also comprising Justices J.B. Pardiwala and Manoj Misra, asked the market regulator to complete the pending two investigations “expeditiously within a period of three months”.

The top court said that reports prepared by third party organisations such as the Organized Crime and Corruption Reporting Project (OCCRP) and Hindenburg Research cannot be regarded as “conclusive proof”.

It added: “The allegations of conflict of interest against members of the (court-appointed) expert committee are unsubstantiated and are rejected.”

The Supreme Court asked the Central government to constructively consider the suggestions made by the expert panel headed by former apex court judge Justice A.M. Sapre.

“The Government of India and SEBI will take any further actions as are necessary to strengthen the regulatory framework to protect investors and ensure the orderly functioning of the securities market,” it said.

The apex court asked SEBI and other investigative agencies of the Union government to probe into allegations of short selling resulting in loss of investors value.

New Delhi, Dec 6 (IANS) Gautam Adani, Adani Group Chairman is now the 15th richest in the world after adding more than $ 12 billion in a massive rally in Adani Group stocks.

Adani was back in the list of top 20 richest people in the world in November following the rally in Adani Group stocks

As per the Bloomberg Billionaires Index, Adani is now the 15th richest person in the world, with a net worth of $82.5 billion. Adani’s wealth jumped by more than $ 12 billion following the rally in Adani Group stocks on Tuesday.

Adani Group market cap hit an 11-month high, reaching Rs 13.8 lakh crore in mcap in Tuesday's trade.

The Adani conglomerate clinched its best-ever single-day market performance adding Rs 1.92 lakh crore in one day gains.

Tuesday's strong gains also come on the heels of reports indicating that the US International Development Finance Corp (DFC) did not find the allegations of corporate fraud by short-seller Hindenburg Research relevant. Before extending a significant loan to the conglomerate for a port project in Sri Lanka, the DFC reportedly conducted a thorough examination of the claims against the Adani Group.

All 10 stocks in the Adani group clocked gains ranging from 7-20 per cent with Adani Green Energy and Adani Energy Solutions hitting gains of 20 per cent. The Group's flagship company Adani Enterprises Ltd (AEL) saw a staggering rise in its share price by 16.91 per cent, increasing its market valuation by a substantial Rs 48,809 crore. Adani Ports and Special Economic Zone (APSEZ) also performed solidly with a 15.3 per cent gain in share price, contributing Rs 29,043 crore to the market cap.

Other group stocks also gained with Adani Energy Solutions and Adani Green Energy Solutions clocking gains of 20 per cent each. Both stocks added over Rs 55,600 crore to the group’s market cap. Adani Power Ltd (APL) and Adani Total Gas Limited (ATGL) registered gains of 15.81 per cent and 19.88 per cent, respectively.

New Delhi, Nov 24 (IANS) The Chief Justice of India, D.Y. Chandrachud, has expressed concerns over the reliance placed by the petitioners in the Adani-Hindenburg case on certain media reports to level allegations against the Adani Group and India’s regulatory system.

The court said that the Securities and Exchange Board of India (SEBI) cannot be expected to follow what newspaper reports have said in order to make its findings.

The Chief Justice also expressed displeasure over the use of information from reports by organisations such as the Organized Crime and Corruption Reporting Project (OCCRP) and Hindenburg Research by the petitioners.

The observations came after the Supreme Court resumed its hearing in the ongoing case after a gap of almost three months.

The Solicitor General of India, Tushar Mehta, brought new facts regarding the OCCRP report to the notice of the Supreme Court.

As per Mehta, when SEBI wrote to the OCCRP seeking details and documents relied upon by the organisation while levelling allegations against the Adani Group in its August 31 report, the OCCRP did not share the details of the allegations, and said that they could instead be obtained from an NGO in India, which had provided it the information.

As per the Solicitor General, the NGO is run by Prashant Bhushan.

During the hearing, Mehta informed the Court that investigation in 22 out of the 24 cases relating to the allegations against the Adani Group were over.

"For the remaining two, we need information from foreign regulators etc., along with some other information. We have been in consultation with them. Some information has come but that is where we are not in control of the time limit for obvious reasons...," he said.

To recall, while rejecting OCCRP's allegations, the Adani Group had termed the report as yet another concerted bid by Soros-funded interests supported by a section of the foreign media to revive the meritless Hindenburg report.

The Adani Group had said, “These claims are based on closed cases from a decade ago when the Directorate of Revenue Intelligence (DRI) probed allegations of over invoicing, transfer of funds abroad, related party transactions and investments through FPIs.

"An independent adjudicating authority and an appellate tribunal had both confirmed that there was no overvaluation and that the transactions were in accordance with the applicable law. The matter attained finality in March 2023 when the Supreme Court ruled in our favour.

"Clearly, since there was no overvaluation, there is no relevance or foundation for these allegations on transfer of funds.”

New Delhi, September 04 (IANS) The Supreme Court is slated to consider on September 15 the fresh status report filed by Securities Exchange Board of India (SEBI) in the Adani-Hindenburg matter.

As per the details available on the official website of the apex court, a bench headed by CJI D.Y. Chandrachud is likely to take up the pleas for hearing on September 15.

On August 25, the market regulator in a fresh status report said that it had examined 24 matters in compliance with orders of the top court, adding that SEBI will take appropriate action based on the outcome of the investigations in the Adani-Hindenburg matter.

“Out of the said 24 investigations, 22 are final in nature and 2 are interim in nature. As on date, the said 22 final investigation reports and 1 interim investigation report are approved by the Competent Authority in accordance with SEBI's extant practice and procedures,” said the status report filed by the Executive Director V.S. Sundaresan of SEBI.

It said that in respect of one remaining matter, interim findings are approved by the Competent Authority and SEBI has sought information from external agencies or entities.

“Upon receipt of such information will evaluate the same vis-a-vis the interim investigation report to determine further course of action, if any, in the said matters,” it said.

On August 14, the SEBI had sought an extension of 15 days to conclude the investigation process and file a status report in the matter.

The market regulator had then said that “out of the said 24 investigations/ examinations, 17 are final and complete and approved by the Competent Authority in accordance with SEBI's extant practice and procedures”.

Earlier, the Securities Exchange Board of India (SEBI) had filed its views before the Supreme Court on various recommendations made by the Court-appointed Expert Committee in connection with the Adani-Hindenburg case.

The SEBI had opposed the suggestion of prescribing timelines for initiation of investigation and proceedings and said that “prescribing specific timelines to complete the investigation may compromise the quality of investigation”.

The apex court on March 2 had formed an expert committee headed by Justice A.M. Sapre, former judge of the Supreme Court with an objective to review and strengthen the existing financial regulatory mechanisms.

It had directed SEBI to expeditiously conclude the investigation within two months and file a status report.

Later in May, the Supreme Court had granted an extension of time till 14 August 2023 to the market regulator to submit its report.

The controversial Hindenburg Research's report, inter alia, alleged that the Adani Group of companies has manipulated its share prices; failed to disclose transactions with related parties and other relevant information concerning related parties in contravention of the regulations framed by SEBI; and violated other provisions of securities laws.

The report about Indian billionaire Gautam Adani had led to a stock rout, erasing over $ 100 billion from his empire and pushing him down on the global rich list.

New Delhi, Aug 14 (IANS) In an application filed before the Supreme Court, the Securities Exchange Board of India (SEBI) has sought an extension of 15 days to conclude the investigation process in the Adani-Hindenburg matter. 

The market regulator said that it has examined 24 matters in compliance with orders of the top court and “out of the said 24 investigations/ examinations, 17 are final and complete."

The application said that in one matter SEBI has completed the investigation based on the material that could be gathered by it so far and had sought information from agencies or regulators in foreign jurisdictions, etc. “Upon receipt of such information, will evaluate the same to determine further course of action, if any, in the said matter,” it added.

In the remaining six matters, findings in four investigations have been crystalized and the reports prepared are awaiting approval of the Competent Authority. “SEBI expects to complete the approval process in respect of the aforesaid four matters shortly and in any event before the next date of hearing,” the application added. 

“In the remaining two matters (out of six), investigation is at an advanced stage in one matter and in the other one matter, interim report is under preparation based on information gathered by SEBI thus far,” the market regulator told the Supreme Court, which is scheduled to hear the matter on August 29. 

“SEBI had sought information from entities/agencies/ regulators in foreign jurisdictions, etc., and upon receipt of such information, will evaluate the same vis-a-vis the interim report to determine further course of action,” it said. 

Earlier, the Securities Exchange Board of India (SEBI) had filed its views before the Supreme Court on various recommendations made by the Court-appointed Expert Committee in connection with the Adani-Hindenburg case.

The SEBI had opposed the suggestion of prescribing timelines for initiation of investigation and proceedings and said that “prescribing specific timelines to complete the investigation may compromise the quality of investigation.”

The apex court on March 2 had formed an expert committee headed by Justice A.M. Sapre, former judge of the Supreme Court with an objective to review and strengthen the existing financial regulatory mechanisms.

The controversial Hindenburg Research's report, inter alia, alleged that the Adani Group of companies has manipulated its share prices; failed to disclose transactions with related parties and other relevant information concerning related parties in contravention of the regulations framed by SEBI; and violated other provisions of securities laws.

The report about Indian billionaire Gautam Adani had led to a stock rout, erasing over $ 100 billion from his empire and pushing him down on the global rich list.

New Delhi, May 15 (IANS) Market regulator Sebi has told the Supreme Court that the allegations that it has been investigating the Adani Group since 2016 are "factually baseless". Sebi also cautioned that "any incorrect or premature conclusion of the case arrived at without full facts material on record would not serve the ends of justice and hence would be legally untenable".

Securities and Exchange Board of India (Sebi), in a rejoinder affidavit submitted in the apex court, said: "The allegation that Securities and Exchange Board of India is investigating Adani since 2016 is factually baseless..."

It further added, "The application for extension of time filed by Sebi is meant to ensure carriage of justice keeping in mind the interest of investors and the securities market since any incorrect or premature conclusion of the case arrived at without full facts material on record would not serve the ends of justice, and hence would be legally untenable."

The Sebi said, "In the context of investigation into Minimum Public Shareholding (MPS) norms, Sebi has already approached eleven overseas Regulators under the Multilateral Memorandum of Understanding (MMOU) with the International Organisation of Securities Commissions (IOSCO). Various requests for information were made to these Regulators. The first request to overseas Regulators was made as early as on October 6, 2020."

On May 12, the Supreme Court indicated that it may grant three months more to the Sebi to complete its probe into the controversy surrounding the Hindenburg Research report on the Adani Group of companies.

A bench headed by Chief Justice of India (CJI) D.Y. Chandrachud and comprising Justices P.S. Narasimha and J.B. Pardiwala said it accepts petitioners' point that Sebi cannot take indefinitely long period to complete its probe and "we are not going to give them six months, we give them three months..." and added that it is not keen on accepting Sebi's request to grant six-month extension to complete the probe.

On April 29, the Sebi moved the Supreme Court seeking six-months extension to complete its probe into Hindenburg allegations of "stock manipulation" by the Adani group.

The top court on Monday is likely to pronounce order on Sebi's plea.