One of Asia's richest men has been hit by a bribery scandal, live in the UK.

This is the Marketplace Morning Report from the BBC World Service.

I'm Leanna Byrne. Good morning.

India's Guatemala Dani, one of the world's richest men, has been charged in a $250 million

bribery scandal tied to a massive solar energy project.

Adani and seven others are accused of paying bribes to secure lucrative contracts. Shares in his company, the Adani group,

dropped by more than 10% today as a fallout unfolds. The BBC's Arunaday Mukherjee is in Mumbai and he's

following this one. Hello. Hi. Erunadee, what exactly are the charges against him?

These fresh charges are of fraud in the US and officials there have accused Gotham Adani

and his company of engineering a $250 million bribery scheme and they're calling it that.

Those are the words used by them,

and saying that the Adani Group raised money from US as well as international investors and used

that money to bribe Indian government officials to win contracts for their renewable energy

company. So that's essentially the primary allegation. But I'd also like to point out that

the Adani Group has responded with a statement saying that these charges and the indictment are allegations.

And all the people who are named in this are presumed innocent until proved guilty.

They've also added that they've always worked within the framework of laws.

Now, the Adani group has previously

been accused of fraud by Hindenburg research. Has this any connection to it? Is there any

comparison to those earlier allegations? Well, those allegations that came in from the Hindenburg

report a couple of years back accused the Adani group of market manipulation and fraud.

The allegations now is something that is going to be further delved into, and we'll get more details about whether there are any links to the earlier allegations.

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