Adani Group's Response to US Department of Justice and Securities Exchange Commission

The Adani Group has officially responded to the recent allegations levelled against the company. It strongly denied the accusations made against its companies, calling them baseless. The company emphasized that individuals and organizations should be considered innocent until proven guilty.

In a statement released by Adani, it said, "The allegations made by the US Department of Justice and the US Securities and Exchange Commission against the directors of Adani Green Energy are unfounded. We strongly reject these claims. As stated by US investigative agencies in their charges, these are merely allegations with no truth behind them. Until proven guilty, individuals and organizations are presumed innocent. The Adani Group is committed to maintaining transparency and the highest standards in its operations. The company reassures its shareholders, partners, and employees and remains a law-abiding organization. All possible legal recourse will be sought..."

Bribery for Rs16,890 Crore Contracts?

The FBI has identified that bribes were allegedly paid to Indian government officials to secure solar power supply contracts that would generate $2 billion (₹16,890 crore) in profits over 20 years. There are also allegations that false information was provided to banks and investors in an attempt to raise funds. Since these solar projects involve U.S. investors' funds, the FBI is investigating the case. Additionally, lawyers have indicated that illegal loans and bonds were raised through Adani Green Energy. As a result, Gautam Adani, his relative Sagar Adani, and seven others have been named as suspects in the case.

Also read: Adani Group Companies Shares Lose Rs 2.6 Lakh Crore Today: Case against Gautam Adani in US