Adani Group has denied allegations of bribery made by the U.S. Department of Justice and the Securities and Exchange Commission against its renewable energy arm, Adani Green’s directors. On November 21, the company released a statement labelling the allegations as “baseless” and pledged to take all necessary legal actions. Citing the U.S. Department of Justice’s guidelines, the group stressed that the accusations remain mere allegations, not proven facts.
“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,” said the group.
“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,” said a spokesperson of the group.
“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,” said the spokesperson.
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US Authorities Allegations On Adani Group
According to U.S. authorities, Indian government officials were allegedly offered over $250 million in bribes to secure lucrative solar energy contracts. Adani stocks tumbled after the allegations.
In response to the allegations, Adani Group issued a statement clarifying its position and provided a detailed rebuttal to the U.S. authorities.
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