One of India’s largest conglomerates under suspicion following US fraud charges

FILE - The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, Nov. 21, 2024. FILE - This picture taken on January 11, 2024, shows a general view of Mundra Port, which is owned by India's Adani Group, in Mundra. FILE - Workers assemble Photovoltaic Modules at the plant of Adani Green Energy Ltd in Mundra, India, April 11, 2024. A man sits next to a poster put up during a protest by India's main opposition Congress party against Gautam Adani, after he was indicted in New York, in New Delhi, Nov. 25, 2024.

Nearly two years after one of India’s biggest conglomerates was hit by allegations of wrongdoing by a U.S. investment firm, it is again in the eye of a storm as it faces charges of fraud, which analysts say are far more serious.