Sri Lanka has revoked a power purchase agreement with Indian conglomerate Adani Group following allegations of corruption, according to an AFP report that was published by the Economic Times newspaper on Friday.

Sri Lanka has canceled a power purchase agreement with Adani Group, amid corruption allegations against the company's founder, Gautam Adani . The decision was taken by President Anura Kumara Dissanayake's administration, which is now reviewing the proposed wind power project.

Sri Lankan President Anura Kumara Dissanayake began investigations into Adani's local projects after founder Gautam Adani faced bribery allegations from the United States last year

Sri Lanka has revoked a power purchase agreement with Indian conglomerate Adani Group following allegations of corruption, energy ministry sources in Colombo said Friday. "The government has revoked the power purchase agreement,

Adani Power shares fell after reports suggested that Sri Lanka has cancelled a power purchase agreement with the Adani Group amid corruption allegations from the US