MUMBAI, March 9 India's Adani Ports and Special Economic Zone Ltd on Friday denied a media report that said it was being investigated for possible money laundering.
Shares in Adani group companies fell after a Bloomberg report, citing three unnamed people familiar with the matter, said the ports unit had failed to win security clearances to expand because it was being probed by the Indian government for possible money laundering.
An external spokeswoman representing the group said Adani Ports was not under government probe and there was no money laundering at the company.
Adani Port shares were down 8.78 percent at 132.5 rupees each. (Reporting by Tony Munroe and Abhishek Vishnoi; Editing by Aradhana Aravindan)
Trending On Reuters
Ready for Rate Hike
Two years ago India was a "fragile five" economy growing at 5 percent, facing a severe current account deficit and the rupee at record lows as the U.S. Fed Reserve prepared to taper its stimulus programme. Today, two years into the term of RBI Governor Raghuram Rajan, India is set to confidently face the Fed's first rate rise since 2006. Full Article