Key Takeaways
- Adani Group denies US bribery charges and vows to seek legal recourse.
- The company is accused of paying over $250 million in bribes to Indian government officials.
- Gautam Adani, Sagar Adani, Vneet Jaain and other senior executives are accused of bribery and lying to investors and banks.
New Delhi: Responding to bribery charges against Gautam Adani and other senior company executives by the US Department of Justice and the US Securities and Exchange Commission, Adani Group on Thursday dismissed the allegations as baseless.
“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,” Adani group spokesperson said in a media statement.
The spokesperson said that 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 spokesperson said.
Adani Group has always maintained 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.
The US Department of Justice has issued a critical indictment against Adani Group executives, while the US Securities and Exchange Commission has brought a civil complaint in the Eastern District of New York.
“As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and Gautam S. Adani, Sagar R. Adani and Vneet S. Jaain lied about the bribery scheme as they sought to raise capital from U.S. and international investors,” stated Breon Peace, United States Attorney for the Eastern District of New York in a media release.
As per the US prosecutors, the indictment alleges schemes to pay over $250 million in bribes to Indian government officials, to lie to investors and banks to raise billions of dollars, and to obstruct justice.
