ATGL

April 1 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AAHL, BLINKIT LAUNCH INDIA’S FIRST IN-TERMINAL QUICK COMMERCE SERVICE AT MUMBAI AIRPORT- STATEMENT

Source text: [ID:]

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;))

March 11 (Reuters) - Adani Total Gas Ltd ADAG.NS:

• SUPPLY TO INDUSTRIAL CUSTOMERS IMPACTED BY MIDDLE EAST DEVELOPMENTS

• ASSESSING IMPACT AND TAKING MITIGATION STEPS

• ALLOCATED PRIORITY FOR DOMESTIC PNG AND CNG FOR TRANSPORT

• APPRECIATE GOVT'S PRIORITY FOR GAS SUPPLIES TO DOMESTIC PNG AND CNG CUSTOMERS AND SUPPLY OF PNG TO INDUSTRIAL AND COMMERCIAL CUSTOMERS

Source text: ID:nBSE8gZY6B

Further company coverage: ADAG.NS

((Reuters.Briefs@thomsonreuters.com;;))

By Neha Arora

NEW DELHI, March 6 (Reuters) - India's Jindal Stainless JIST.NS said on Friday there may be some delays in steel shipments to the Middle East in the near term due to the conflict in the region.

The country's biggest stainless steel producer said the Middle East accounted for a small share of its export market but that the company remained committed to serving the region.

"Given the escalating conditions, there may be some delays in shipment arrivals in the near term, due to extended transit timelines across certain international shipping routes and air spaces," Abhyuday Jindal, managing director of Jindal Stainless, told Reuters.

He said it was premature to comment on any kind of surcharges.

The company was closely monitoring the evolving geopolitical situation and was prepared to ensure minimal disruption to its supply chain and operations, Jindal said.

"One focus area currently is the availability of certain industrial gases and raw materials, such as limestone and dolomite, sourced from the (Middle East)," Jindal added, saying that while the company maintained adequate inventory levels, they were prepared to tap other sourcing options to prevent any impact on production.

Some steel companies are also bracing to pay higher prices for gas.

Reuters reported on Thursday that India's Adani Total Gas ADAG.NS has sharply raised prices for supplies to industrial clients, citing lower availability of gas due to the conflict in the Middle East.

(Reporting by Neha Arora; editing by Mayank Bhardwaj and Raju Gopalakrishnan)

((neha.dasgupta@tr.com; X: neha_5;))

By Neha Arora

NEW DELHI, March 5 (Reuters) - India's Adani Total Gas ADAG.NS (ATGL) has sharply raised prices for supplies to industrial clients citing lower availability of gas due to conflict in the Middle East, according to a customer notice seen by Reuters.

The company is a joint venture of Adani Group and French oil major TotalEnergies SE TTEF.PA.

As a result of the attacks on Iran and Tehran's retaliatory strikes, transit through ⁠the Strait ​of Hormuz between Iran and Oman, which carries around one-fifth ​of oil consumed globally as well as large quantities of liquefied natural gas, has ground to a near-halt after some ​vessels in the area were hit.

"Due to recent geo‑political developments impacting LNG supply routes, ATGL has received upstream gas curtailment, leading to operational constraints," the company said.

It raised prices from Tuesday on gas consumed over and above the 40% daily contract quantity to 119 Indian rupees ($1.30) per standard cubic meter, the notice said.

Earlier prices were around 40 rupees per standard cubic meter, a source said.

Adani Total Gas did not immediately respond to a Reuters request for comment.

($1 = 91.6050 Indian rupees)

(Reporting by Neha Arora; Editing by Saad Sayeed)

((neha.dasgupta@tr.com; X: neha_5;))

.

By Jonathan Stempel

NEW YORK, Jan 30 (Reuters) - The U.S. Securities and Exchange Commission has arranged to serve Gautam Adani with a civil fraud lawsuit, allowing the regulator's case against India's second-richest person to proceed.

In a Friday filing in the Brooklyn, New York federal court, the SEC and U.S.-based lawyers for Adani and his nephew Sagar Adani said the lawyers agreed to accept the SEC's legal papers, eliminating the need for U.S. District Judge Nicholas Garaufis to rule on how the defendants should be served.

If the judge approves the resolution, the Adanis will have 90 days to respond to the SEC's complaint, which could include requests for a dismissal.

Robert Giuffra, a lawyer for Gautam Adani, declined to comment. Sean Hecker, a lawyer for Sagar Adani, also declined to comment.

The SEC charged the Adanis in November 2024 with violating U.S. securities law by orchestrating a scheme to pay or promise to pay hundreds of millions of dollars in bribes to Indian government officials to benefit Adani Green Energy ADNA.NS, where both are executives and directors.

Both defendants are in India, and the SEC had reported difficulty in serving them with legal papers.

U.S. prosecutors filed a related criminal case in November 2024 against the Adanis and several other defendants. There have been no public developments in that case for more than a year. The SEC's case had been stalled for most of that time.

Gautam Adani, 63, founded and chairs the conglomerate Adani Group. He is worth about $59 billion according to Forbes magazine.

(Reporting by Jonathan Stempel; Editing by Hugh Lawson)

Adds Adani group statements, paragraphs 11-12

By Urvi Dugar

Jan 23 (Reuters) - India's Adani group firms shed $12.5 billion in market cap on Friday, after a U.S. markets regulator asked a court for help in serving summonses upon founder Gautam Adani and group executive Sagar Adani over alleged fraud and a $265 million bribery scheme.

Reuters reported the procedural request from the U.S. Securities and Exchange Commission, in the regulator's civil case against the Adanis, on Thursday after the Indian markets closed.

On Friday, the group's flagship company, Adani Enterprises ADEL.NS, was the top percentage loser on India's benchmark Nifty 50 .NSEI. While the firm's shares fell 10.65% to 1,864.2 rupees, the Nifty declined 0.95% at close.

Group shares settled down between 3.4% and 14.54%.

U.S. authorities in November 2024 accused Adani group executives of being part of a scheme to pay bribes to Indian officials for buying electricity produced by Adani Green Energy ADNA.NS, a unit of the Adani group.

The SEC's civil case against Gautam Adani and his nephew Sagar Adani is separate from the U.S. Department of Justice's criminal indictment against the Adanis and several other defendants. The Justice Department case remains open, court records show.

U.S. law prohibits foreign companies that raise money from American investors from paying bribes overseas to secure business, and it also bars them from soliciting investment on the basis of false or misleading statements.

Serving a summons is often routine, but the SEC said India's government had refused two requests to have its summonses served on the Adanis.

The regulator asked a judge to instead let it serve the summonses on the Adanis' U.S.-based lawyers, and email copies to the Adanis.

U.S. civil procedural rules allow this method of service, the SEC said. "Given defendants’ actual knowledge of this litigation -- demonstrated by public statements, regulatory filings, and retention of U.S. counsel -- email service to their business addresses will provide effective notice," the SEC added.

Adani group has called the allegations "baseless" and said that it would seek "all possible legal recourse" to defend itself. In statements to Indian stock exchanges late on Friday, group firms referred to the same response from November 2024. Adani Green Energy ADNA.NS, Adani Ports APSE.NS, Adani Total Gas ADAG.NS and Adani Enterprises ADEL.NS added that the companies are not party to the proceedings and that no allegations or charges have been made against them.

"Market participants assumed there's nothing pending and that the group has been cleared, so the SEC filing seems (to have come) out of the blue," said Ambareesh Baliga, an independent market analyst.

With no clear timeline for the next steps, Baliga said he expects the issue could linger for at least another fortnight, noting that overall market sentiment was already weak.

(Reporting by Urvi Dugar and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala, Noeleen Walder and Daniel Wallis)

((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))

Jan 22 (Reuters) - India's Adani Total Gas ADAG.NS on Thursday reported its first quarterly profit increase in five quarters, as higher compressed natural gas (CNG) sales helped offset elevated gas procurement costs.

The company, a joint venture of Adani Group and French oil major TotalEnergies SE TTEF.PA, said its consolidated net profit rose about 11.4% to 1.59 billion rupees ($17.4 million) in the three months ended December 31.

On a standalone basis, CNG volumes, which account for more than half of total sales, grew 17% in the latest quarter, driven by network expansion, the company said. It added 18 new CNG stations, taking the total to 680.

In the piped natural gas (PNG) segment, sales volume grew 3% to 89 million standard cubic meters, the company said.

Revenue from operations rose 17% to 16.39 billion rupees, while total expenses rose 18.1% to 14.37 billion rupees, as natural gas costs rose about 18%.

In April 2025, the Indian government cut back supplies of subsidised natural gas to city gas distributors, including Adani Total Gas, after domestic output declined.

India's natural gas production dropped for the 18th straight month, falling 4.4% year-on-year in December.

Adani Total Gas shares closed 3.8% higher before the results were announced.

($1 = 91.5930 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Tasim Zahid)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))

Sept 30 (Reuters) - Adani Total Gas Ltd ADAG.NS:

• ADANI TOTAL GAS LTD - PARAG PARIKH RESIGNS AS CFO OF ADANI TOTAL GAS

Source text: ID:nBSEbkw6C7

Further company coverage: ADAG.NS

(Reuters.Briefs@thomsonreuters.com)

Sept 19 (Reuters) - Adani Group stocks gained between 1% and 9.6% on Friday, a day after India's markets regulator dismissed short-seller Hindenburg Research's allegations of stock manipulation against billionaire Gautam Adani and his group.

Adani Power ADAN.NS led gains among the nine entities with its 9.6% climb. Adani Enterprises ADEL.NS, the flagship firm, rose 4.4%.

(Reporting by Anuran Sadhu and Kashish Tandon in Bengaluru; Editing by Harikrishnan Nair)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))

July 28 (Reuters) - Adani Total Gas Ltd ADAG.NS:

• Q1 CONSOL NET PROFIT 1.65 BILLION RUPEES

• Q1 CONSOL REVENUE FROM OPERATIONS 14.98 BILLION RUPEES

Source text: ID:nBSE2VfpzR

Further company coverage: ADAG.NS

((Reutersbriefs@thomsonreuters.com;))

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Hudson Lockett

HONG KONG, July 17 (Reuters Breakingviews) - Leave it to an online bazaar to sell a creative financial swap. Chinese e-commerce giant Alibaba 9988.HK just raised $1.5 billion with a zero-coupon bond that can be exchanged for shares in its healthcare subsidiary if the unit’s stock price rises 35% from its pre-announcement close. Other Asian conglomerates will be keen to get in on the market.

Alibaba Health Information Technology 0241.HK, a $9.5 billion digital platform selling pharmaceuticals and medication tracking, has not paid off for investors. Its total return over the past five years has been negative 76%. Despite the terrible performance, its $260 billion parent company found a way to wring some value out of the business.

It’s a clever twist on a popular hedge fund plaything. Convertible bonds, where a company’s borrowing transforms into equity, have been booming worldwide. In Hong Kong, this year’s issuance of some $12 billion exceeds the 2024 tally by 70%, per Dealogic. Some of it includes exchangeable debt like Alibaba’s.

The twist is canny. Alibaba’s investment-grade credit rating provides some downside protection. At the same time, Alibaba Health’s shares, whose price has swung wildly from up 80% at one point this year to less than 30% now, dangle tempting upside from any fresh rally.

As a deal denominated in Hong Kong dollars, it’s also a timely beneficiary of the city's rock-bottom interest rates. The upshot is cheap funding for Alibaba’s artificial intelligence initiatives. Boss Eddie Wu recently unveiled new investments in Thailand, Mexico and South Korea as the company seeks to spend at least $53 billion on machine learning and cloud computing infrastructure by 2028.

Alibaba also structured the bond, due in seven years, so it has the power to keep control of the healthcare division. If the price reaches the designated threshold, the payout can be in shares, cash or a mix to ensure the parent’s stake stays well above 50%.

Hedge funds often seek out volatility and option value for their portfolios, implying that the continent’s other corporate labyrinths could make similar use of exchangeable bonds. IndianOil IOS.NS-Adani Gas ADAG.NS is already lining one up, according to Bloomberg. Alibaba tech rival Tencent 0700.HK seems like another potential candidate. Just as with e-commerce, there’s always something curiously tempting in the financial marketplace.

Follow Hudson Lockett on Bluesky and X.

CONTEXT NEWS

Alibaba raised HK$12 billion ($1.5 billion) on July 4 from the sale of a zero-coupon exchangeable bond due 2032, which can be swapped for shares in listed subsidiary Alibaba Health Information Technology if its stock price rises 35%.

The deal caps more than $6 billion of exchangeable deals in Asia during the first half of 2025 and comes amid a surge of equity-linked debt issuance in Hong Kong of more than $12 billion this year, per Dealogic.

(Editing by Jeffrey Goldfarb; Production by Ujjaini Dutta)

((For previous columns by the author, Reuters customers can click on LOCKETT/ hudson.lockett@thomsonreuters.com))

June 25 (Reuters) - Adani Total Gas Ltd ADAG.NS:

• ADANI TOTAL GAS LIMITED AND JIO-BP PARTNER TO ENHANCE QUALITY FUEL OFFERINGS

• AND JIO-BP SIGN AGREEMENT TO ENHANCE FUEL RETAIL

• BOTH PARTNERS TO OFFER EACH OTHER'S FUELS ACROSS SELECT OUTLETS

• ATGL OUTLETS TO OFFER JIO-BP LIQUID FUELS

Source text: ID:nBSE4G0lbl

Further company coverage: ADAG.NS

((Reuters.Briefs@thomsonreuters.com;;))

June 23 (Reuters) - Adani Total Gas Ltd ADAG.NS:

• NSE: TO EXCLUDE F&O CONTRACTS ON 8 SECURITIES INCLUDING ADANI TOTAL GAS, JINDAL STAINLESS FROM AUG 29 ON EXPIRY OF EXISTING CONTRACTS

Source text: [https://tinyurl.com/5hdtsnv6]

Further company coverage: ADAG.NS

((reuters.briefs@thomsonreuters.com;))

June 3 (Reuters) - Shares of India's Adani Group firms fell between 1% and 2.5% on Tuesday, a day after the Wall Street Journal reported that U.S. prosecutors were probing whether Adani entities had imported Iranian LPG into India through their Mundra port.

An Adani spokesperson called the report "baseless and mischievous" in a statement, adding: "We are not aware of any investigation by U.S. authorities on this subject."

Shares in the group's flagship firm Adani Enterprises ADEL.NS opened 2.2% lower, while Adani Ports APSE.NS fell 2.5%. Adani Total Gas ADAG.NS, Adani Power ADAN.NS, Adani Green ADNA.NS and Adani Energy Solutions ADAI.NS were down between 1% and 2%.

India's benchmark Nifty 50 index .NSEI was down 0.4%, with Adani Enterprises and Adani Ports the top percentage losers.

The WSJ said it had found tankers travelling between the Gulf and billionaire Gautam Adani's Mundra port in western India exhibiting traits that experts say are common for ships evading sanctions.

Reuters could not independently verify the report and the U.S. Department of Justice and the U.S. Attorney's Office in Brooklyn did not respond to requests for comment.

Adani Ports has been the top gainer among Adani Group stocks so far this year, up 16%, while Adani Total has been the top loser, down 11%.

(Reporting by Sethuraman NR; Editing by Mrigank Dhaniwala)

((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))

Changes date; Adds Adani Green's response in paragraph 6, updates stock moves in paragraph 9

May 5 (Reuters) - Representatives for Indian billionaire Gautam Adani met officials from U.S. President Donald Trump's administration to seek dismissal of criminal charges in an overseas bribery probe, with a resolution possible in a month, Bloomberg News reported.

In November, U.S. authorities indicted Adani and his nephew, Sagar Adani, alleging they paid bribes to secure power supply contracts, and misled U.S. investors during fund raises there.

The U.S. financial regulator summoned the duo, alleging they misled investors on compliance during a $750 million Adani Green ADNA.NS bond sale in the United States.

The billionaire's aides are trying to make the case that his prosecution does not align with Trump's priorities and should be reconsidered, Bloomberg News reported on Sunday, citing sources familiar with the matter.

The discussions began earlier this year and have picked up in recent weeks, with a resolution possible within a month if the momentum continues, the report said.

Adani Green, in a statement on Monday, reiterated it was not part of any proceedings, but it did not directly comment on the report about the meetings. It had recently said its review of the indictment found no non-compliance or irregularities.

The Justice Department and White House declined comment to Bloomberg on the report and did not respond to Reuters for comment outside business hours.

Adani Enterprises, the group's flagship firm, also did not respond to a request for comment. The group has previously denied any wrongdoing.

Shares of Adani Group's nine Indian listed companies rose between 1.7% and 10.5% on Monday, amid a 0.6% increase in the broader market.

The indictment has erased about $13 billion in market value from Adani Group's nine listed firms.

(Reporting by Bipasha Dey, Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)

((Bipasha.Dey@thomsonreuters.com;))

April 28 (Reuters) - India's Adani Total Gas ADAG.NS, reported a drop in fourth-quarter profit on Monday, as a fall in allocated supply from the government led to higher gas purchase costs.

The company, a joint venture of Adani Group and French oil major TotalEnergies SE TTEF.PA, said its consolidated net profit fell about 8% to 1.55 billion rupees ($18.23 million) in the three months ended March 31.

The Indian government had cut cheaper gas supplies to city gas distributors like Adani Total Gas, citing lower output by producers in the country.

The allocation improved in January, the company had mentioned in its December earnings report. However, that remained lower on a year-on-year basis.

Adani Total Gas' natural gas costs rose 28%, leading to a 21% surge in its total expenses to 12.64 billion rupees.

However, demand for compressed natural gas (CNG) - which is Adani Total's biggest segment - remained higher due to the government's push to make cleaner-burning energy more accessible and cut vehicular pollution.

Its CNG volumes, which account for more-than-half of its total sales, grew 18% in the latest quarter, boosted by the addition of 42 new stations, across the country, on a standalone basis. The company currently operates 647 CNG stations.

Sales volume in its other vertical, piped natural gas (PNG), rose 5% to 87 million standard cubic meters of gas per day.

Its overall revenue from operations increased to 14.53 billion rupees from 12.58 billion rupees a year ago.

($1 = 85.0200 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Leroy Leo)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

By Sethuraman N R

NEW DELHI, Feb 13 (Reuters) - India's Adani Total has yet to conduct feasibility studies to double the capacity of its LNG terminal in Dhamra, Chief Executive Surjeet Singh Lamba told Reuters on Thursday, a year after the joint venture announced it was in the early stages of planning a possible expansion.

Lamba said the 5 million tons per annum (mtpa) LNG terminal on India's east coast, in which French energy giant TotalEnergies SE TTEF.PA has a 50% stake alongside the Adani Group, operated at an average utilisation rate of 25% in 2024.

Utilisation has since risen to about 50%, the CEO said. Usage has been low because the terminal has been unable to attract new customers after locking state-run firms Indian Oil Corp IOC.NS, and GAIL (India) Ltd GAIL.NS into 20-year take-or-pay contracts in 2023.

Lamba said the expansion was contingent on demand, and when asked about the potential for growth in LNG demand, he pointed to Prime Minister Narendra Modi's target to more than double the share of natural gas to 15% of India's energy mix by 2030.

"It depends upon the requirement of the users, as in, when we get some business potential," he said.

"Once feasibilty (study) is done, only then we will be able to comment on that (expansion)," Lamba told Reuters on the sidelines of the India Energy Week.

He did not comment on any financing plans.

TotalEnergies said last year it would pause investing in the Adani Group after U.S. prosecutors accused officials from the conglomerate, including its billionaire Chairman Gautam Adani, of corruption.

(Writing by Sudarshan Varadhan;Editing by Elaine Hardcastle)

((sudarshan.varadhan@thomsonreuters.com; +65 91164984;))

Jan 27 (Reuters) - India's Adani Total Gas ADAG.NS reported a 20% fall in third-quarter profit on Monday, hurt by higher gas purchase costs following lower supply from the government.

The Adani group company's consolidated profit fell 20% to 1.42 billion rupees ($16.4 million) in the three months ended Dec. 31, from a year ago.

The government had cut cheaper gas supplies to city gas distributors like Adani Total Gas in October and November, citing lower output, but later restored in January.

The company had to bridge the shortfall with costlier purchases of natural gas to ensure an uninterrupted supply of compressed natural gas (CNG) to end consumers, Adani Total Gas said in a statement.

The cost of procuring natural gas surged 20% year-on-year, Adani Total Gas said.

The gas distributor's CNG sales, which account for over half of its total sales volume, rose 19% during the quarter, while sales volume at the piped natural gas (PNG) segment increased 8%.

Revenue rose 12.6% to 14.01 billion rupees driven by higher sales volume.

The increase in natural gas supplies from the government from January should have a positive impact in the fourth quarter, the company said.

This is the first quarterly results since the company's JV partner TotalEnergies SE TTEF.PA paused new investments into the Adani group of companies after a U.S. federal indictment against chairman Gautam Adani and others. The group has denied the charges and called them "baseless."

Shares of Adani Total Gas fell 3% after the results and have lost about 16% in January so far.

($1 = 86.3900 Indian rupees)

(Reporting by Sethuraman NR; Editing by Eileen Soreng)

((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net/))

Jan 9 (Reuters) - Adani Total Gas Ltd ADAG.NS:

• ADANI TOTAL GAS LTD - ALLOCATION OF APM GAS HAS BEEN REVISED UPWARDS BY 20%

• ADANI TOTAL GAS LTD - APM GAS ALLOCATION REVISED UPWARDS BY 20% EFFECTIVE JAN 16, 2025

Source text: ID:nBSE3KgJrD

Further company coverage: ADAG.NS

((Reuters.Briefs@thomsonreuters.com;;))

Dec 9 (Reuters) - Indian conglomerate Adani Group will invest over 7.5 trillion rupees ($88.53 billion) in various sectors like renewable energy and cement in the northern state of Rajasthan, Karan Adani, managing director of Adani Ports APSE.NSm, said on Monday at an investment summit.

($1 = 84.7200 Indian rupees)

(Reporting by Sethuraman NR; Editing by Sonia Cheema)

((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))

Adds details, background

Dec 3 (Reuters) - Several entities linked to the Adani Group have approached the India markets regulator seeking to settle a case that accuses them of violating public shareholding regulations at some listed companies, the Economic Times reported on Tuesday.

The Securities and Exchange Board Of India (SEBI) had sent notices to Adani Enterprises ADEL.NS, the group's flagship company, as well as Adani Power ADAN.NS, Adani Ports APSE.NS and Adani Energy ADAI.NS alleging they had wrongfully categorised the shareholding of certain entities.

The groups' breaches of a minimum public shareholding requirement date back to 2020 and the SEBI had sought to recover about 25 billion rupees ($295 million) from the entities, ET said.

Adani Enterprises and one of its directors, Vinay Prakash, as well as an Ambuja Cements ABUJ.NS director, Ameet Desai, have proposed a settlement, ET reported.

Another proposal for a 2.8-million-rupees ($33,035) settlement is from Emerging India Focus Funds (EIFF), a Mauritius-based foreign portfolio investor that the SEBI says is linked to Vinod Adani, brother of Adani Group Chairman Gautam Adani, ET said.

The report did not have information regarding other settlement applications.

The proposals were submitted last week in response to a show-cause notice issued by the SEBI on Sept. 27 to about 30 Adani Group entities, the newspaper reported.

The entities have contested the charges in response to the notice and the settlement application is only a precautionary measure, ET added, citing a source.

The Adani Group did not immediately respond to a Reuters request for comment.

Last month, U.S. authorities accused Gautam Adani and some top executives in the Adani Group of being part of a scheme to pay bribes of $265 million to secure Indian power supply contracts and of misleading U.S. investors during fund raises there, charges the group has called "baseless".

($1 = 84.7580 Indian rupees)

(Reporting by Anuran Sadhu and Sethuraman NR in Bengaluru; Editing by Savio D'Souza)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))

NEW DELHI, Dec 2 (Reuters) - Both houses of Indian parliament were suspended on Monday after disruptions by opposition groups demanding a discussion on bribery allegations against the Adani Group and communal tensions in a northern town.

Parliament was similarly adjourned for all of last week as opposition parties, led by the main opposition Congress, demanded a discussion on the indictment of Adani chair Gautam Adani by U.S. authorities.

(Reporting by Sakshi Dayal; Editing by YP Rajesh)

((Sakshi.Dayal@thomsonreuters.com;))

NEW DELHI, Nov 29 (Reuters) - The lower house of India's parliament was suspended temporarily on Friday for a fourth day in a row this week following disruptions as opposition lawmakers sought a discussion on the allegations against Adani Group.

U.S. authorities last week accused Group Chairman Gautam Adani and seven others from the company of being part of a $265 million scheme to bribe Indian officials, and of misleading U.S. investors while raising funds there.

The ports-to-power conglomerate has termed the allegations "baseless" and said it would seek "all possible legal recourse".

(Reporting by Sakshi Dayal; Editing by Kim Coghill)

((Sakshi.Dayal@thomsonreuters.com;))

Adds quotes, background

NEW DELHI, Nov 28 (Reuters) - Both houses of Indian parliament were suspended temporarily on Thursday within minutes of opening as opposition lawmakers disrupted proceedings for the third day this week seeking a discussion on allegations against the Adani Group.

U.S. authorities have accused Gautam Adani, his nephew Sagar Adani and managing director of Adani Green, Vneet S. Jaain, of being part of a scheme to pay bribes of $265 million to secure Indian solar power supply contracts, and misleading U.S. investors during fund raises there.

"We want a discussion on this in parliament. It is going to be the third day that we are demanding a reply from the prime minister" on the Adani issue, Manickam Tagore, a lawmaker from the main opposition Congress party, which has been leading the protests against the business group, told news agency ANI.

Many of India's opposition parties accuse Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) of favouring Adani and blocking investigations against him in India, accusations both have denied.

Congress leader Rahul Gandhi, who has been a vocal critic of Adani, said Gautam Adani, 62, should be arrested.

While the government has not made any comment on the indictment, Modi's BJP has said it had no reason to defend Adani, adding that the party was not against industrialists and considered them partners in nation-building efforts.

"Let him defend himself," BJP spokesperson Gopal Krishna Agarwal said on Tuesday, adding that the law would take its course.

(Reporting by Shilpa Jamkhandikar; Editing by YP Rajesh)

((shilpa.jamkhandikar@thomsonreuters.com;))

Corrects third paragraph and 'Quote of the Week' section to state that Maharashtra election was 'provincial', not 'provisional'

26 Nov - By Ira Dugal, Editor Financial News, with global Reuters staff.

Greetings from Mumbai!

This week on the India File, we focus on allegations against Adani group founder Gautam Adani. Does this latest crisis create new risks for India's economy? I'd be interested in your views. Please write to me at ira.dugal@thomsonreuters.com.

Meanwhile, the rupee has been tumbling from one record low to the next, prompting more aggressive measures to keep the currency stable. More on that in "Market Matters".

And the ruling Bharatiya Janata Party wins a landslide victory in provincial elections in the pivotal state of Maharashtra, strengthening its political position.

THIS WEEK IN ASIA

** 'No one will win a trade war,' China says after Trump tariff threat

** Japan plans $90 billion spending in new stimulus package, document shows

** IMF approves third review of Sri Lanka's $2.9 billion bailout ** Australia dumps plan for fines for social media giants enabling misinformation

INDIA AND THE ADANI CRISIS

Billionaire Gautam Adani and the sprawling Adani group are facing another crisis less than two years after they were targeted by U.S. short seller Hindenburg Research, which knocked $150 billion in market value from the group's listed companies.

The allegations this time came from U.S. prosecutors, who indicted Gautam Adani for his alleged role in a $265 million bribery scheme that aimed to secure solar power approvals from Indian officials. The group has denied any wrongdoing.

Read here to know more about the allegations, the defendants in the case and suspected disclosure lapses on the part of the Adani group.

With Gautam Adani himself at the centre of the latest allegations, the entire group faces "key man" concerns. Adani's dominance in the domestic infrastructure sector, moreover, has put India's government and lenders in a tough spot, Reuters BreakingViews columnists wrote.

A top risk for India is what may happen to the group's funding. Global bankers have turned cautious since the indictment and S&P said funding access could be impaired and borrowing costs pushed higher.

French oil major TotalEnergies, with shareholdings in Adani Green and Adani Total Gas, has paused fresh funding to the group.

While Indian banks' exposure to the group is currently at comfortable levels, they too are limited by regulations that cap exposure to any single corporate group.

Hasnain Malik, emerging market equity strategist at research firm Tellimer Insights, sees other potential problems as well.

"The case may pose a risk to foreign investor appetite for Indian assets," he said, noting there had already been a sharp drop in foreign flows into Indian equities this year. What's more, he said, the indictment could give leverage to the incoming Trump administration in trade negotiations.

TOO BIG TO IGNORE?

As Gautam Adani led the Adani group's phenomenal rise, the first-generation entrepreneur also led it into a number of controversies, including opposition from climate activists to its Carmichael coal mine in Australia and a political outcry over the Dharavi slum redevelopment project in Mumbai.

For years, a number of Indian economists have also warned about the concentration of economic power in the hands of a few industrial houses.

Back in 2021, India's former chief economic adviser Arvind Subramaniam and former IMF representative to India Josh Felman called out the Narendra Modi government's strategy of creating national champions, including the Adani and Ambani groups, which could crowd out potential growth for other companies.

But that did not slow the champions' advance.

The Adani group has cornered large market shares in key infrastructure segments - from ports and airports, where it controls close to a quarter of India's capacity, to solar manufacturing, where it holds a 53% share of India's installed photovoltaic cell capacity.

It plans to invest $90 billion more in infrastructure expansion over the next decade, Jefferies said in a report earlier this year. That would make it one of the largest private-sector players in the sector, which has taken off as the world's fifth-biggest economy rushes to catch up with China and others. The private sector has contributed about one-fifth of India's infrastructure spending in recent years, while overall infrastructure investment, including government money, was estimated by CRISIL Research to reach $1.8 trillion for 2024-2030.

QUOTE OF THE WEEK

"BJP's resounding win in the Maharashtra elections boosts political stability, a market sentiment positive."

Jefferies analysts on the State of Maharashtra's election results.

Prime Minister Narendra Modi's Bharatiya Janata Party won by a landslide in provincial elections in India's richest state.

Since the BJP lost its majority in parliamentary elections in June, it has focused on key state elections, winning both the farm-heavy northern state of Haryana last month and now Maharashtra, home to the financial capital Mumbai.

MARKET MATTERS

The Indian rupee has tumbled from one record low to the next over the past month, pressured by a strengthening dollar and persistent outflows of foreign investors' money.

Still, the rupee has performed better than its Asian peers as the Reserve Bank of India has stepped in to sell dollars and slow the decline. This in turn has eroded its forex reserves, which saw the sharpest decline on record in the week ended Nov. 15.

The RBI has taken its intervention to a new level, however, as it confronted persistent outflows both before and after the Adani indictment. In a rare move, the RBI also asked banks to cut their long dollar-rupee positions.

($1 = 84.4260 Indian rupees)

(By Ira Dugal; Editing by Edmund Klamann)

Ambuja Cements Ltd ABUJ.NS:

• SRI LANKA'S FINANCE MINISTRY AND FOREIGN MINISTRY STUDYING ADANI ALLEGATIONS - CABINET SPOKESPERSON

• SRI LANKA TAKING CONCERNS SERIOUSLY, WILL CONSIDER ALL ASPECTS OF ADANI PROJECTS BUT NO FINAL DECISION MADE YET - CABINET SPOKESPERSON

Source text: [ID:]

Further company coverage: ABUJ.NS

Updates with moves by Bangladesh and US government bodies, CFO statement

BENGALURU, Nov 25 (Reuters) - Indian billionaire Gautam Adani has been indicted by U.S. prosecutors for his alleged role in a $265 million scheme to bribe Indian officials, sending shockwaves across his eponymous ports-to-soybeans business conglomerate.

Here is what you need to know about the U.S. indictment.

THE MAJOR U.S. INDICTMENT

Gautam Adani, one of world's richest people, faces his biggest challenge after being charged with seven others for alleged bribery related to power supply deals from energy projects in India, with U.S. authorities calling it "The Corrupt Solar Project".

Adani Group, which runs several key infrastructure projects across the globe, says the allegations are baseless and has vowed to seek "all possible legal recourse".

The group's CFO has said the indictment is linked to one Adani Green Energy contract that makes up some 10% of the unit's business.

There is also a growing spotlight on Sagar Adani, a millennial scion of the company who kept track of hundreds of millions of dollars of alleged bribes to Indian officials, in notes the prosecutors described as "bribe notes".

The alleged bribes caught the attention of U.S. authorities when Adani's companies were raising funds from U.S.-based investors in transactions starting in 2021.

DISCLOSURE ISSUES, STOCK ROUT AND FALLOUT

The scandal has also raised concerns about market and public disclosure lapses by Adani Group, with prosecutors alleging the company issued false statements earlier this year related to its knowledge of the U.S. investigation.

The U.S. indictment has kept Adani Group's debt and equity under pressure. Its dollar bond prices have fallen to almost a one-year low.

The indictment appears to now have ramifications across the globe, including news that some bankers are considering pausing fresh lending to the group.

Kenya has ordered the cancellation of Adani infrastructure deals worth over $2.5 billion and a U.S. development agency is 'assessing ramifications' on a Sri Lanka Adani port project it had agreed to finance. In Bangladesh, a government panel has sought legal help for its investigation of power deals including one with Adani.

Back in India, opposition parties have demanded a probe into allegations of wrongdoing and said they would raise the issue in parliament.

WHAT NEXT FOR ADANI, LEGAL OPTIONS

A key question is what is next for Gautam Adani? He is charged with foreign bribery, securities fraud, securities fraud conspiracy and wire fraud conspiracy.

Adani has not been arrested and his whereabouts are unknown, though he is believed to be in India.

A trial could still be a long way off, even if Adani is extradited or surrenders in the U.S.

If convicted, Adani could face decades in prison as well as monetary penalties, though any sentence would ultimately be up to the judge overseeing the case.

For now, Adani has to answer U.S. SEC allegations within 21 days, a court directive states.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Aditya Kalra, Sonali Paul and Toby Chopra)

((munsif.vengattil@thomsonreuters.com;))

Repeats to add Adani companies' Reuters instrument codes, no changes to text

By Shankar Ramakrishnan, Sumeet Chatterjee, Davide Barbuscia and Sinead Cruise

HONG KONG/NEW YORK, Nov 22 (Reuters) - Some global banks are considering temporarily halting fresh credit to India's Adani Group but staying put with existing loans following U.S. prosecutors' indictment of its billionaire founder Gautam Adani for fraud, sources said.

U.S. prosecutors have charged eight people, including Adani chair Gautam Adani, with agreeing to pay about $265 million in bribes to Indian government officials to obtain contracts and develop India's largest solar power plant project.

The crisis is the second in two years to hit the ports-to-power conglomerate founded by Adani, 62, one of the world's richest people. Adani Group has said the allegations made by the U.S. authorities were "baseless and denied".

Senior executives at two of Adani's global lenders said that they have had multiple calls within their respective banks since the indictment details were announced to discuss exposure to the group and what the impact of the latest development would be on the group's financials.

"We will have to put a pause to fresh lending until we are able to figure how this will play out. I think it will be a while before the bank is able to tap the credit market," said a banker at one of the leading Western banks.

The banker, who is involved in talks related to Adani credit exposure and declined to be named as he was not authorised to speak to the media, said most of the group firms have stable cash flows and are not in "desperate need" to raise capital.

The indictment would, however, cast a cloud over fundraising plans for expansion within India and abroad, as there will be greater creditor scrutiny not just on the indictment outcome but also on the "key man risk" for the group, the banker said.

A senior banker at another Western bank, which is one of the major lenders to the group, said that the bank would also put a temporary freeze on fresh lending it was keeping a close watch on the Indian government's reaction to the indictment.

All the bankers spoke to Reuters for this story on the condition they and their institutions would not be identified due to the sensitivity of the matter and because the internal discussions are confidential.

Indian opposition parties that have long complained that Adani and his conglomerate have been treated favorably by Prime Minister Narendra Modi's government called for an investigation into allegations of wrongdoing.

Modi and Adani, both from the western state of Gujarat, have denied impropriety.

"Our future course of action will largely depend on whether the government will now try to find a way to resolve this or launch its own probe," said the senior banker at a Western bank, adding the infrastructure giant has now become "too-big-to-fail" for India.

A Japanese bank with credit exposure to Adani said in cases like the one involving the Indian conglomerate, lenders tend to pause fresh lending due to reputational risk. The indictment of an individual, however, would generally not break any of its loan covenants, said the bank, which declined to be named.

Adani did not immediately respond to Reuters request for comment.

DEBT MATURITIES

In a statement in April last year, Adani said global banks including Barclays BARC.L, Deutsche Bank DBKGn.DE, Mizuho 8411.T, Mitsubishi UFJ Financial Group 8306.T, SMBC Group 8316.T and Standard Chartered STAN.L reaffirmed confidence in the Adani group after it was hit by a short-seller attack.

Spokespersons for the three Japanese banks declined to comment, while others did not immediately respond.

S&P Global Ratings said in a note on Friday the indictment could affect investor confidence in Adani group entities, thereby potentially impairing their funding access and increasing their funding costs.

"We believe domestic, as well as some international banks and bond market investors, look at Adani entities as a group, and could set group limits on their exposure. This may affect the funding of rated entities," it said.

The rating agency, however, added that the rated entities have "no immediate and lumpy" debt maturities.

Some global banks with ties to Adani are parsing through bond and loan documentations to see if it exposed them to a risk of default or created a liability if investors decided to demand their money back, said another banker.

But there was not a lot of legroom in documentation for either investors or the bankers to force the company to pay them back since there was no conviction yet, said lawyers familiar with corporate bond and loan agreements.

Om Pandya, a Houston-based capital markets partner at Clifford Chance, said continued payment of interest by a borrower would also typically undermine any potential argument by creditors looking at clauses in loan or bond documentations to trigger a default.

The most likely liability facing the banks is civil liability from investors introduced to Adani through the banks, said John Joy, managing attorney at FTI Law, a law firm that specializes in Foreign Corrupt Practices Act (FCPA) violations.

"Civil litigation is a lengthy process, and it is possible that during discovery investors could uncover involvement that has not been disclosed by the SEC (Securities and Exchange Commision) or DOJ (Department of Justice)," he said.

Adani has not been arrested yet and U.S. prosecutors would need to ask the Indian government to extradite him under the terms of the countries' extradition treaty. Adani could fight extradition, and it is unclear how long the process might take.

"There's been no conviction ... but if you're a risk officer at a bank with exposure to Adani, maybe you're getting a little bit nervous," said Ed Al-Hussainy, head of emerging market fixed income research at Columbia Threadneedle.

(Reporting by Shankar Ramakrishnan and Davide Barbuscia in New York; Sumeet Chatterjee in Hong Kong, Anton Bridge in Tokyo and Sinead Cruise in London; Editing by Sonali Paul)

((sumeet.chatterjee@thomsonreuters.com; +852 3462 7757;))

Nov 21 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• ADANI GROUP REACTS TO U.S. INDICTMENT, SAYS FULLY COMPLIANT WITH ALL LAWS - CNBC TV18

• ADANI GROUP RELEASES STATEMENT ON BRIBERY CHARGES; ALEGATIONS ARE BASELESS - CNBC TV18

• ADANI GROUP SAYS ALL POSSIBLE LEGAL RECOURSE WILL BE SOUGHT - CNBC TV18

Source text: [ID:]

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;;))

Nov 15 (Reuters) - Adani Total Gas Ltd ADAG.NS:

• INTIMATED BY NODAL AGENCY FOR FURTHER REDUCTION IN ALLOCATION OF APM GAS BY 13%

Source text: ID:nBSE73SbCs

Further company coverage: ADAG.NS

((Reuters.Briefs@thomsonreuters.com;))