What Happened
Indian Conglomerate Finds Relief In Bribery And Sanctions Cases
The Adani Group has received significant legal relief in the US, with the Treasury Department settling a probe into the purchase of sanctioned Iranian energy and the Department of Justice dropping criminal charges against billionaire Gautam Adani. The settlements may help the Indian conglomerate access international capital markets, which could accelerate its expansion plans. The Adani Group had nearly $32 billion in net debt as of September last year, with global banks and capital markets accounting for 41% of its total debt. This development was first reported by CNBC.