The Adani Group dismissed the accusations made by US prosecutors, claiming that Gautam Adani had paid over $250 million in bribes to Indian officials for favorable government contracts.
Adani Group’s Statement
On Thursday, the Adani Group strongly rejected the charges, calling them “baseless” and denying the allegations made by the US Department of Justice and the US Securities and Exchange Commission. A spokesperson for the group stated, “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.”
The US prosecutors have charged Adani for allegedly being involved in a scheme to bribe Indian officials to gain advantageous terms for solar power contracts, amounting to over $250 million (approximately ₹2,100 crore).
US Department of Justice Response
Commenting on the situation, the Adani Group spokesperson referred to a statement from the US Department of Justice, noting that “the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.”
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The spokesperson further emphasized the group’s commitment to maintaining the highest standards of governance, transparency, and regulatory compliance across all its operations. “We assure our stakeholders, partners, and employees that we are a law-abiding organization, fully compliant with all laws,” the statement added.
Charges Against Gautam Adani
According to Bloomberg, the following charges have been made against Adani:
- Gautam Adani is alleged to have personally met with Indian authorities multiple times to further the bribery plot.
- Co-conspirators are said to have communicated through electronic messaging apps, including while in the US.
- Evidence of the bribery scheme includes electronic documentation, such as photos of documents summarizing the bribes and PowerPoint and Excel presentations detailing the bribe options.
- The individuals involved reportedly used code names such as “V,” “snake,” and “numero uno minus one,” with Gautam Adani being referred to as “Mr. A,” “numero uno,” and “the big man.”
- Some members are accused of destroying evidence, including presentations and electronic communications, to cover their tracks.
- Adani allegedly emailed himself photos of the search warrant and grand jury subpoena handed to his nephew, Sagar Adani, by the FBI.
