In the wake of U.S. bribery allegations against top executives of India’s Adani Group, the country faces a reckoning with an economic model that has allowed a small group of entrepreneurs to grow fabulously rich.

The rating agency cites governance concerns and potential operational disruptions following the indictment of Adani’s chairman and senior executives over bribery charges

In March, Adani Group's head of corporate finance wrote an email to one of its lenders, calling as "baseless" a media report on the group's alleged bribery investigation in the United States. That email was also marked to top finance executive Sagar Adani.

GQG Partners faces a 26% loss in Adani stocks amid bribery allegations, prompting a potential portfolio review while refusing to sell, despite mounting controversy.

Adani Group stocks are likely to attract attention on Tuesday after GQG Partners, led by Rajiv Jain, reiterated its support for its Adani investments despite a $265 million bribery scandal involving Adani Green Energy employees in the US.

Boutique investment firm GQG Partners has reiterated its confidence in Adani group companies amid an indictment of the Indian group's promoters in an alleged bribery case in the US

American investment firm GQG Partners decided not to sell shares of Adani Group companies, stating that the exposure was manageable even during stock market volatility. The firm does not feel the US securities regulator's claims will have any material impact on the group.

GQG Partners downplayed the impact of the $265 million US bribery scandal on Adani Group, stating their investment thesis remains unchanged. With a $9.7 billion exposure, representing 6.1% of their assets,