Azure Power settles US securities lawsuit
Adani Group linked solar energy producer Azure Power has paid $23 million to settle a case in a US district court over alleged bribery and other irregularities, the company said on Tuesday. Azure, whose shares were listed for US trading on the NY Stock Exchange, said the resolution will enable it to move forward. An indictment a New York district court had charged the company and its former executives Ranjit Gupta, Murali Subramanian and Pawan Kumar Agrawal of misrepresenting data about the company and allegedly paying bribes to win new projects.
