India’s Adani Group has firmly denied allegations from US prosecutors claiming its founder, Gautam Adani, paid over $250 million in bribes to secure government contracts.
In a statement released on Thursday, the company rejected the accusations made by the US Department of Justice (DOJ) and the US Securities and Exchange Commission (SEC). The conglomerate called the claims against directors of Adani Green “baseless” and stated that it would pursue “all possible legal measures” to counter them.
Details of the Allegations
The indictment, filed on Wednesday, accuses Adani and several associates of offering bribes exceeding $250 million to Indian officials to secure solar energy supply contracts. These deals were expected to generate over $2 billion in profits after taxes over a span of 20 years.
None of the individuals named in the case are currently in custody.
Adani Group’s Response
The company reaffirmed its commitment to ethical business practices, saying, “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.”
Adani Group also reassured its stakeholders, partners, and employees, stating, “We are a law-abiding organization and fully compliant with all laws.”
