Adani Group Denies Bribery Charges, Calls It 'Baseless'

Adani Group spokesperson said, “The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless"

Adani Group has denied the allegations against it by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green. The group also termed the allegations 'baseless'.

In an official statement, Adani Group spokesperson said on Thursday, “The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied. As stated by the US Department of Justice itself, "the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty." All possible legal recourse will be sought..."

“The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws,” the spokesperson added.

Charges filed in a Brooklyn court allege that Gautam Adani and other executives, including Sagar R. Adani and Vneet S. Jaain, orchestrated a $250 million (Rs 2,100 crore) bribery scheme to secure solar energy contracts in India. The indictment accuses the defendants of making false statements to US investors and violating federal laws.

US prosecutors claimed the Adani Group concealed critical information from US banks and investors who provided billions in funding for the solar energy project. The group sought to generate $2 billion in profits by securing these contracts.