Defiant Adani says committed to compliance after US indictment

Indian billionaire Gautam Adani on Saturday said "attacks" on his company made it "stronger", days after US prosecutors accused him and other officials of fraud.Addressing the allegations for the first time, he said his conglomerate was committed to "world-class regulatory compliance".

The US Justice Department said Adani, his nephew Sagar Adani, and one other official were charged "with conspiracies to commit securities and wire fraud and substantive securities fraud". Five others were charged "with conspiracy to violate the Foreign Corrupt Practices Act," the department said.

On Thursday, Adani's company said it had suffered a loss of nearly $55 billion in market capitali sation across its 11 listed companies since the US indictment was filed.