<p>Singapore/Sydney: <a href="https://www.deccanherald.com/tags/adani">Adani</a> dollar bond prices fell to almost one-year lows on Monday as investors cut their exposure to the Indian conglomerate in the wake of bribery and fraud allegations from US authorities.</p>.<p>The group's billionaire chairman, <a href="https://www.deccanherald.com/business/companies/adani-touts-financial-muscle-shows-can-grow-without-external-debt-3290374">Gautam Adani</a>, and seven other people were last week charged with agreeing to pay around $265 million in bribes to Indian government officials.</p>.<p>The charges related to alleged payments to obtain contracts that could yield $2 billion of profit over 20 years as well as to develop India's largest solar power project.</p>.<p>The charges also included making misleading statements to the public despite being made aware of the US investigation in 2023.</p>.<p>The Adani Group has said the accusations as well as those levelled by the US Securities and Exchange Commission in a parallel civil case are baseless and that it will seek "all possible legal recourse".</p>.Sudhanshu Trivedi questions timing of US indictment of Adani before Parliament session.<p>In Asian trade on Monday, some of the most liquid debts, issued by Adani Ports and Special Economic Zone fell between 1 cent and 2 cents, with similar selling in Adani Transmission debt.</p>.<p>Ports bonds maturing in 2027 were down 1.6 cent to 88.98 cents on the dollar, having lost nearly 7 cents in face value since US prosecutors charged billionaire Chairman Gautam Adani last week.</p>.<p>Longer-dated Ports bonds were down on Monday and have lost between 8 cents and 10 cents in face value on the news.</p>.<p>Adani Transmission debt maturing in May 2036 fell 1.8 cent on Monday for a loss of more than 7 cents since Wednesday.</p>.<p>Adani group's 10 listed stocks led by Adani Enterprises lost $27.9 billion in market value over two sessions last week after the US charges. </p>
<p>Singapore/Sydney: <a href="https://www.deccanherald.com/tags/adani">Adani</a> dollar bond prices fell to almost one-year lows on Monday as investors cut their exposure to the Indian conglomerate in the wake of bribery and fraud allegations from US authorities.</p>.<p>The group's billionaire chairman, <a href="https://www.deccanherald.com/business/companies/adani-touts-financial-muscle-shows-can-grow-without-external-debt-3290374">Gautam Adani</a>, and seven other people were last week charged with agreeing to pay around $265 million in bribes to Indian government officials.</p>.<p>The charges related to alleged payments to obtain contracts that could yield $2 billion of profit over 20 years as well as to develop India's largest solar power project.</p>.<p>The charges also included making misleading statements to the public despite being made aware of the US investigation in 2023.</p>.<p>The Adani Group has said the accusations as well as those levelled by the US Securities and Exchange Commission in a parallel civil case are baseless and that it will seek "all possible legal recourse".</p>.Sudhanshu Trivedi questions timing of US indictment of Adani before Parliament session.<p>In Asian trade on Monday, some of the most liquid debts, issued by Adani Ports and Special Economic Zone fell between 1 cent and 2 cents, with similar selling in Adani Transmission debt.</p>.<p>Ports bonds maturing in 2027 were down 1.6 cent to 88.98 cents on the dollar, having lost nearly 7 cents in face value since US prosecutors charged billionaire Chairman Gautam Adani last week.</p>.<p>Longer-dated Ports bonds were down on Monday and have lost between 8 cents and 10 cents in face value on the news.</p>.<p>Adani Transmission debt maturing in May 2036 fell 1.8 cent on Monday for a loss of more than 7 cents since Wednesday.</p>.<p>Adani group's 10 listed stocks led by Adani Enterprises lost $27.9 billion in market value over two sessions last week after the US charges. </p>