Gautam Adani, his nephew Sagar Adani, and senior executive Vneet Jaain have been cleared of bribery charges by the US Department of Justice (DoJ), according to a recent filing by Adani Green Energy Ltd. (AGEL). Additionally, AGEL has refulted media reports alleging bribery and corruption charges against Adani officials, labelling them 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,” said the statement filed by Adani Green Energy. “Mr. Gautam Adani, Mr. Sagar Adani and Mr. Vneet Jaain have not been charged with any violation of the FCPA in the counts set forth in the indictment of the US DOJ or civil complaint of the US SEC,” the statement added.
The US DoJ indictment against the Adani Group, which comprises five counts, notably excludes Gautam Adani, Sagar Adani, and Vneet Jaain from Count One, specifically “Conspiracy to Violate the FCPA”, said the AGEL. Furthermore, Gautam Adani, Sagar Adani, and Vneet Jaain are also absent from Count Five of the DoJ indictment, which alleges “Conspiracy to obstruct justice”, read the statement.
Additionally, Adani officials, including Gautam Adani, Sagar Adani, and Vneet Jaain, face charges related to three specific counts. These include Count 2: Alleged securities fraud conspiracy, Count 3: Alleged wire fraud conspiracy, and Count 4: Alleged securities fraud, said the company.
Gautam Adani: More Details Surrounding The Matter
The US DoJ indictment against Adani executives doesn’t provide any concrete evidence of actual bribe payments made to Indian government officials, said the company. Instead, the indictment and complaint rely solely on allegations that bribes were either promised or discussed.
#WATCH | On the allegations against Adani Group in a US Court, former Attorney General and Senior Counsel Mukul Rohatgi says, "There is an indictment and the Adanis will have to respond to it. I have given you only my preliminary views in regard to count number 1 and count number… pic.twitter.com/fDtVooIZK1
— ANI (@ANI) November 27, 2024
Meanwhile, on the allegations against Adani Group in a US Court, former Attorney General and Senior Counsel Mukul Rohatgi says, “There is an indictment and the Adanis will have to respond to it. I have given you only my preliminary views in regard to count number 1 and count number 5. The Adanis will take legal consultation in the US…I told you about 5 charges. Charge 1 and charge 5 are the more important ones, and in neither of them, you will find the name Adani.”
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