Since the bribery indictment last week, Indian billionaire Gautam Adani's net worth has tumbled almost $16 billion to about $54 billion currently, according to Forbes real-time data. The group is also facing a backlash from investors and business partners.

The decline in net worth comes after allegations of bribery and has also dented the companies listed under the huge conglomerate, wiping out Rs 2 lakh crore in investor wealth.

The bribery case and Gautam Adani’s US indictment were the latest in a string of problems faced by the conglomerate since the release of the Hindenburg report. Take a look at how things unfolded.

Adani Green Energy said that contrary to media reports, its chairman Gautam Adani and his aides have not been charged for violating the U.S. Foreign Corrupt Practices Act.