The United States has expanded its inquiry into India’s Adani Group, focusing on founder Gautam Adani’s actions and potential bribery.
Investigators are examining whether Adani or associates paid Indian officials for favorable treatment on an energy project.
The US Attorney’s office and the Justice Department’s fraud unit are leading the investigation. They’re also scrutinizing Indian renewable energy firm Azure Power Global.
Adani Group responded to Bloomberg News, stating they were unaware of any investigation involving their chairman.
Neither Adani Group, Azure Power, nor the DOJ immediately responded to Reuters’ requests for comments. Efforts to reach the Attorney’s Office for the Eastern District of New York were unsuccessful.
Last year, Adani Group experienced a significant selloff following allegations by US short-seller Hindenburg Research.