Stocks and bonds of India's Adani Group dropped for a second session on Friday after a U.S. arrest warrant was issued for its billionaire founder Gautam Adani over an alleged $265 million bribery scheme.

Shares of eight of the ten listed Adani group firms were trading lower during the morning trade on Friday after billionaire Gautam Adani was charged by US prosecutors for allegedly being part of a scheme to pay USD 265 million (about Rs 2,

Indian billionaire Gautam Adani has been indicted for fraud by U.S. prosecutors and arrest warrants issued for him and his nephew for their alleged roles in a $265 million scheme to bribe Indian officials to secure power-supply deals.

Adani Group has cleared the air on the indictment of Indian billionaire Gautam Adani by a federal grand jury in the United States over fraud allegations. In a statement on Saturday, October 23, Adani Group Chief Financial Officer (CFO) Jugeshinder Robbie Singh explained that the charges against Adani are related solely to one of its companies,

The Adani Group's access to funding could be hampered after a U.S. arrest warrant was issued for its billionaire founder Gautam Adani over an alleged $265 million bribery scheme, credit analysts said.