Adani Group Responds To US Allegations, Says No Bribery Charges Against Them (image-twitter/gautam_adani)
Gautam Adani of the Adani Group and his nephew Sagar Adani were accused of paying USD 265 million in bribes to secure lucrative solar power contracts. Dismissing all the allegations, the Adani Group has come forward stating that no bribery charges have been filed against him, his nephew Sagar Adani and Vneet Jain.
The Adani Group had clarified by slamming the media report as “incorrect”. “Media articles which state that certain of our directors namely Mr. Gautam Adani, Mr. Sagar Adani and Mr. Vneet Jaain have been charged with violation(s) of the US Foreign Corrupt Practices Act (FCPA) in the indictment. Such statements are incorrect,” Adani Green said in a stock exchange filing.
Read also: After Total Energies Halts New Investments, Fresh Trouble For Adani From Andhra
The bribes were reportedly aimed at securing contracts for the supply of solar electricity, which would allegedly generate $2 billion in profit over 20 years.
Denying all allegations placed against them, the company stated, “Gautam Adani, Sagar Adani, and Vneet Jaain have not been charged with any violations of the FCPA in the counts specified in the US DOJ indictment or the civil complaint by the US Securities and Exchange Commission (SEC)”.
The indictment by the Department of Justice includes five counts, but the first and fifth counts, conspiracy to violate the FCPA and conspiracy to obstruct justice have not mentioned the three directors, Gautam Adani, Sagar Adani and Vneet Jaain, it had said.
The case has been filed before the United States District Court for the Eastern District of New York. The Adani Group said that the indictment does not specify the quantum of any potential fines or penalties.
Read also: US Issues Arrest Warrants For Gautam Adani And Nephew For Alleged Bribery
The group has further reiterated its commitment to defending itself through all available legal channels. “We strongly deny these allegations and will pursue every possible legal recourse to contest them,” the company emphasized.
However, the matter continues to unfold as legal proceedings in the United States.
Meanwhile, senior lawyer Mahesh Jethmalani on Wednesday said that the indictment against Gautam Adani has only claims and has not been proven. Further attacking the Congress party, he asked to provide evidence before launching attack against Adani.
“This is clearly a political tool. They have just had a rout in the Maharashtra elections. They’ve been successful winners in coalition on the coattails of the Jharkhand Mukti Morcha but Maharashtra was a prize which they were very confident of winning. This is a completely divergent tactic,” said Jethmalani.
They have no other issues. You will see that constantly the Congress Party in particular and the INDI alliance sometimes harp on only two issues in which there is foreign meddling. One is Adani and the other is Manipur. These are both issues which they should stay away from. I regret to say that it is not in the country’s interest to keep promoting these and playing with fire,” he further added.
