Gautam Adani loses Rs 88276 crore in just one day due to…, his net worth falls to Rs…

The huge plunge came after the US Department of Justice and the US Securities and Exchange Commission made bribery allegations against directors of the Adani Green-Gautam Adani and Sagar Adani. The American prosecutors said that Adani directors were involved in a scheme to pay USD 250 million (2100 crore) as bribe to Indian officials to secure solar energy contracts. 

Indian billionaire Gautam Adani witnessed a massive loss in his net worth on Thursday. He lost $10.5 (Rs 88276 crore)billion in a single day, according to Forbes’ Real-Time Billionaires List. Now, the Indian business tycoon has a net worth of USD 59.3 billion (approx Rs 4983936500000), as per the index. 

The huge plunge came after the US Department of Justice and the US Securities and Exchange Commission made bribery allegations against directors of the Adani Green-Gautam Adani and Sagar Adani. The American prosecutors said that Adani directors were involved in a scheme to pay USD 250 million (2100 crore) as bribe to Indian officials to secure solar energy contracts. 

On the other hand, the Adani Group strongly rejected bribery allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of the Adani Green as baseless.

The Adani group said in a statement it will explore all legal recourse in the case. 

The stocks of Adani group too observed massive loss and the valuation of its listed firms eroded by Rs 2.45 lakh crore on Thursday. The group’s stock of flagship firm Adani Enterprises witnessed a drop of 22.99 % while Adani Ports dipped 20%. The Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 19.53 per cent and Adani Total Gas tumbled 18.14 per cent on the BSE.