Shares of India's Adani Group companies plunged after its billionaire chair Gautam Adani was indicted in a New York federal court. The 62-year-old billionaire and the other defendants are accused of paying over $250 million in bribes to Indian government officials to secure solar energy contracts that could generate more than $2 billion in profits.

Gautam Adani and his associates were accused of paying more than $250 million in bribes to obtain lucrative solar energy contracts.

The US Attorney’s Office in Brooklyn said Gautam Adani and two others agreed between 2020 and 2024 to pay more than $250 million in bribes to Indian government officials to obtain solar

Gautam Adani, one of the world's richest people, was indicted in a New York federal court on charges regarding an alleged bribery and fraud scheme. An Adani Group spokesperson said the allegations made by the U.