Business News Desk – Nothing is going well for Gautam Adani and Adani Group companies at the moment. Last week, the US Federal Court had accused 7 people including Gautam Adani of giving bribe. After which rating agency Moody’s has reduced the rating of 7 companies of Adani Group. According to Bloomberg News, Moody’s has reduced the ratings of 7 companies of Adani Group including Adani Enterprises, Adani Energy, Adani Green Energy to negative.
S&P Global Ratings also reduced rating
Earlier, S&P Global Ratings has also reduced the rating of Adani Group companies to negative. The rating agency has made negative the outlook of three companies of Adani Group including Adani Ports, Adani Green. He says that there is a serious problem in the cash flow and governance of the group. However, the rating agency maintained the rating at “BBB-“.
New petition regarding Hindenburg case
Meanwhile, petitioner Vishal Tiwari has filed a new petition in the Supreme Court regarding the Hindenburg Report case related to Adani Group. In the petition, the petitioner has also demanded an investigation by the Indian agency. It was said that India’s investigative agencies should also investigate at their own level in the case of court action initiated by the US Justice Department against Gautam Adani. It has also been said in the petition that the allegations made against Adani Group and its associates are very serious. Investigation of these allegations is necessary in the national interest.
Adani Green’s case
Amidst all these allegations, Adani Group has also issued a clarification. In this clarification it was said that this matter is related to only one contract of Adani Green. This contract is only 10 percent of Adani Green’s total business. 11 companies of the group are listed in the stock market. This matter has nothing to do with any other company of the group.
