Indian tycoon and one of Asia's richest men, Gautam Adani, may be facing his biggest challenge yet with an indictment by U.S. prosecutors for alleged fraud and bribery. But it was unclear just how far the implications will affect his businesses and own future — as well as the Indian economy and government.

India's Adani Group on Thursday called US charges that their billionaire founder Gautam Adani had paid more than $250 million in bribes "baseless", as the opposition leader demanded the tycoon's

U.S. prosecutors allege that Gautam Adani, the second most-wealthy Indian man, personally met with Indian government officials to further their “bribery scheme.”