Tag: Adani

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US closes Adani fraud case, SEC settles for $18 mn

The Adani Group received a major relief after US authorities closed a long-running legal matter involving chairman Gautam Adani. The US Department of Justice has permanently ended its criminal fraud case, while the US Securities and Exchange Commission (SEC) reached a civil settlement worth $18 million.

The case had remained in focus for some time and had raised questions around the group’s global operations and business outlook. With the matter now largely resolved, the development is being viewed as an important step for the conglomerate.

The Adani Group had consistently denied allegations linked to the case and maintained that it followed all required legal and regulatory standards. The closure of the criminal proceedings now removes a major uncertainty that had surrounded the company.

The news also had an immediate impact on investor sentiment. Several Adani Group stocks saw gains after the announcement, as investors reacted positively to the development. Market participants viewed the resolution as a sign of greater stability for the group going forward.

Legal clarity often plays a significant role in restoring market confidence, especially for large companies with international business interests. Removing a major legal concern can make it easier for businesses to focus on growth plans, future investments and fundraising activities.

The Adani Group has businesses across infrastructure, ports, energy, logistics and other sectors, making it one of India’s largest business conglomerates. Analysts believe that with the legal issue no longer creating uncertainty, the company may now shift attention towards expansion and operational growth.

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Uber, Adani join hands for India data centre

Uber will build its first data centre in India in partnership with the Adani Group, marking a major expansion move for the ride-hailing company. The development was discussed during Uber CEO Dara Khosrowshahi’s recent meeting with Adani Group chairman Gautam Adani in India.

The data centre is expected to improve Uber’s local digital infrastructure, support AI-driven services and help manage customer data within the country. The move also aligns with India’s growing push for data localisation.

The partnership highlights India’s increasing importance in global technology and digital infrastructure investments. It also strengthens Adani Group’s presence in the growing data centre business.

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NCLAT upholds Adani bid, rejects Vedanta appeal

India’s corporate insolvency process for Jaiprakash Associates Ltd (JAL) saw a key development as the National Company Law Appellate Tribunal (NCLAT) upheld the selection of Adani Enterprises as the winning bidder, while dismissing challenges raised by Vedanta Ltd.

The tribunal rejected Vedanta’s petitions against the Committee of Creditors’ decision, which had approved Adani’s resolution plan for the debt-laden company. The NCLAT observed that there was “no merit” in the objections raised and declined to interfere with the lenders’ commercial judgment.

The case relates to the insolvency resolution of Jaiprakash Associates Ltd, a heavily indebted conglomerate with interests across infrastructure, real estate, and cement. Under the Insolvency and Bankruptcy Code, creditors evaluated competing bids to determine the best recovery option.

Adani’s resolution plan, valued at around ₹14,500 crore, had already been approved by the Committee of Creditors. Vedanta had also submitted a competing bid, which it argued was higher in value and more beneficial for lenders. However, the lenders chose Adani’s proposal, citing overall feasibility and structure of the plan.

Vedanta challenged this decision in the appellate tribunal, claiming that the evaluation process did not maximise value for stakeholders and that its bid should have been considered more favourably. The tribunal, however, found no grounds to overturn the earlier approval by the National Company Law Tribunal (NCLT).

In a separate but related development, the tribunal also dismissed Vedanta’s appeal challenging aspects of the bidding process, further strengthening Adani’s position in the acquisition process.

The ruling effectively clears the way for Adani Enterprises to proceed with the acquisition of Jaiprakash Associates under the insolvency framework, subject to remaining procedural requirements.

Market observers say the decision reinforces the principle that creditor committees have broad discretion in choosing resolution plans, and judicial bodies are generally reluctant to interfere unless there is a clear procedural violation.

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Adani cargo shift plan draws US scrutiny

The United States has raised concerns over the Adani Group’s plan to shift cargo operations from Chhatrapati Shivaji Maharaj International Airport to the upcoming Navi Mumbai airport.

The decision is linked to planned upgrades at the Mumbai airport, which may reduce cargo capacity temporarily. However, US authorities say forcing airlines, including American carriers, to relocate could violate bilateral aviation agreements and limit operational freedom.

They have also flagged competition concerns, as Adani operates both airports. The company says the shift is temporary and aimed at managing capacity. Talks are ongoing.

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SC allows Adani’s Jaypee takeover to proceed

The Supreme Court has allowed the Adani Group’s takeover of Jaiprakash Associates Ltd (JAL) to move ahead, refusing to put the deal on hold while a legal challenge by Vedanta is still under review.

The top court declined to interfere with an order passed by the National Company Law Appellate Tribunal (NCLAT), which had cleared the way for Adani Enterprises’ resolution plan for the financially troubled company.

Vedanta had approached the Supreme Court seeking a stay on the process, arguing that its bid for Jaiprakash Associates was higher and offered better returns for lenders. The company also questioned the transparency and fairness of the bidding process.

However, the court said there was no reason to stop the deal at this stage. It noted that Vedanta’s appeal is already pending before the NCLAT and will be heard soon. The tribunal is expected to take up the matter in the coming days.

While refusing to pause the takeover, the Supreme Court asked the NCLAT to handle the case without delay. It also made it clear that any further steps in implementing the resolution plan should be subject to the tribunal’s approval.

Jaiprakash Associates is currently undergoing insolvency proceedings after defaulting on large debts. As part of the resolution process under the Insolvency and Bankruptcy Code, lenders had selected Adani’s bid over others, including Vedanta’s.

According to reports, lenders favoured Adani’s proposal due to factors such as quicker payments and more certainty in execution, even though Vedanta claimed to have made a higher offer.

The court’s decision is a positive development for the Adani Group, as it allows the acquisition process to continue without interruption. At the same time, Vedanta’s challenge remains active, and the final outcome will depend on the NCLAT’s ruling.

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China raises defence budget to $275 bn

China has announced a 7% increase in its defence budget for 2026, raising military spending to around $275 billion. The announcement was made during the annual meeting of the National People’s Congress in Beijing.

Chinese leaders said the increase is part of the country’s long-term plan to modernise its armed forces and strengthen national security. The funds will be used to improve military training, upgrade weapons and equipment, and support the development of advanced defence technologies.

China already has the world’s second-largest military budget after the United States. The country has steadily increased its defence spending for many years as it works to build a more modern and capable military.

Officials said the higher spending will help accelerate the modernisation of the People’s Liberation Army. The government has set a target of transforming the military into a world-class force by the middle of the century.

The rise in defence spending comes at a time of growing geopolitical tensions in the region. China has been strengthening its military capabilities amid ongoing disputes in the South China Sea and increasing tensions related to Taiwan.

Apart from defence spending, the Chinese government also outlined its economic priorities for the year. Leaders set a GDP growth target of around 5% for 2026 as the country tries to stabilise its economy.

China’s economy has been facing several challenges in recent years, including weak domestic demand, a struggling property sector and uncertainties in the global economy. Despite these issues, the government says it will continue to support growth through investment, innovation and technology development.

Also Read: Adani partners UNESCO for Engineering Day 2026

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Adani partners UNESCO for Engineering Day 2026

Adani Group has been selected as an official partner for World Engineering Day for Sustainable Development 2026, a worldwide initiative supported by UNESCO.

The partnership was announced by the World Federation of Engineering Organizations (WFEO), which leads the celebration each year. Adani Group is the first Indian company to be chosen as an official partner for the global event.

World Engineering Day is observed every year on March 4 to recognise the role engineers play in solving global challenges and supporting sustainable development. The event highlights how engineering and technology can help achieve the United Nations’ Sustainable Development Goals, including clean energy, modern infrastructure and climate action.

As part of the partnership, some of the Adani Group’s major infrastructure and renewable energy projects will be showcased as examples of engineering solutions supporting sustainable growth.

One of the projects expected to be highlighted is the large renewable energy development at Khavda in Gujarat’s Kutch district. The project, being developed by Adani Green Energy, is planned to become one of the world’s largest renewable energy plants once completed.

The Khavda project is expected to generate around 30 gigawatts of renewable power when fully operational. It is part of the group’s broader plan to expand clean energy capacity and support the global shift toward sustainable energy sources.

The theme for World Engineering Day 2026 is “Smart engineering for a sustainable future through innovation and digitalisation”. The event will focus on how new technologies and engineering solutions can help build sustainable infrastructure and improve energy systems.

Adani Group said the partnership reflects its focus on large-scale infrastructure and renewable energy projects. The company added that engineering innovation plays a key role in building reliable infrastructure and supporting economic growth.

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Adani Ports confirms Haifa port safe, fully operational

Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port operator, has confirmed that its Haifa Port terminal in Israel is secure and fully operational, despite ongoing regional conflict following recent military strikes. The company said port operations continue as usual, with no disruptions to cargo movement or vessel schedules.

Haifa Port, on Israel’s Mediterranean coast, is a vital hub for container shipments, vehicles, and bulk cargo. Adani Ports manages terminal operations through a joint venture with local partners, ensuring smooth handling of trade between Israel, India, and other international markets. Maintaining operational continuity is crucial amid heightened security concerns in the region.

In an official statement, APSEZ said it has implemented all necessary measures to safeguard its employees, assets, and infrastructure. The company emphasised that business activities at the port remain unaffected, with cargo handling, vessel calls, and supply chains running normally. These assurances aim to allay concerns of traders and shipping partners relying on stable operations.

Haifa Port plays a strategic role not only for Israel’s domestic trade but also for connecting Mediterranean and European routes with Asia. Analysts note that keeping the port open during regional instability reassures international shippers and investors, preserving confidence in the logistics and shipping sector.

Adani Ports’ statement also comes amid broader market concerns over potential disruptions caused by geopolitical tensions in the Middle East, which could affect fuel costs, insurance premiums, and shipping schedules. By confirming that its Haifa operations remain unaffected, APSEZ signals resilience and commitment to uninterrupted service for global trade partners.

The company reiterated its commitment to the safety and well-being of employees and partners at the port. All standard security protocols are in place, and management continues to monitor the situation closely to respond promptly to any potential risks.

Also Read: PM Modi urges peace, flags economic risks in Gulf

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Ravi Nair jailed in Adani defamation case

Independent journalist Ravi Nair has been sentenced to one year in jail and fined ₹5,000 by a magistrate court in Gandhinagar, Gujarat, in a defamation case filed by Adani Enterprises.

The case revolves around tweets and posts from 2020–21 that the court said harmed the company’s reputation. Nair’s lawyers maintained that his posts were meant as public-interest criticism.

The verdict has sparked wider conversations about press freedom and responsible reporting in India, highlighting the delicate balance between free speech and legal boundaries in the digital age.

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Adani Mangal Seva completes one year

The Adani family, including Jeet Adani and Diva Shah, marked the first anniversary of Adani Mangal Seva in Ahmedabad.

Launched before their wedding, the initiative provides 500 differently-abled brides annually with ₹10 lakh fixed deposits, ensuring financial stability and independence.

Run by the Adani Foundation in partnership with SBI, the programme will continue for at least five years, empowering women aged 25–40 with dignity and long-term support.