Now the plan faces a hurdle in the form of a U.S. indictment of Adani, his nephew and executive director Sagar Adani and managing director Vneet S. Jaain, accusing them of paying bribes of $265 million to secure Indian power supply contracts, and misleading U.S. investors during fund raises there.

Some nations and investors have either scrapped deals or halted investments in the Adani Group, after the United States indicted its billionaire chairman Gautam Adani for alleged bribery and fraud to win contracts for a group company,

Kenya’s president says he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after U.S. bribery and fraud indictments against one of Asia’s richest men.

Bloomberg reporters take your questions on what's next for Adani after US charges over an alleged $250 million bribe

By George Obulutsa and Aaron Ross NAIROBI (Reuters) -Kenyan President William Ruto said on Thursday he had ordered the cancellation of a procurement process that had been expected to award control of the country's main airport to India's Adani Group after its founder was indicted in the United States.

Since the bribery indictment last week, Indian billionaire Gautam Adani's net worth has tumbled almost $16 billion to about $54 billion currently, according to Forbes real-time data. The group is also facing a backlash from investors and business partners.

The U.S. case against Adani won’t help Prime Minister Narendra Modi’s ambition to leap forward as a global manufacturing power, in part by attracting foreign direct investment.

By Bharath Rajeswaran (Reuters) -Indian shares inched lower on Tuesday, weighed down by Adani Group stocks' on worries about the implications of alleged bribery charges by the U.S. against their key executives.

Following U.S. bribery charges against Gautam Adani, several nations and investors have paused or scrapped deals with the Adani Group. TotalEnergies halted investments, and the U.S. International Development Finance Corp is reviewing a $550 million Sri Lanka port project.