Adani Group Breaks Silence On US Bribery Claims, Calls Them ‘Baseless’
The Adani Group of India dismissed US prosecutors’ allegations on Thursday that its founder, Gautam Adani, spent more than $250 million in bribes to gain lucrative government contracts.
“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 conglomerate said in a statement, adding that “all possible legal recourse will be sought”.
The indictment filed on Wednesday accuses Adani and multiple subordinates of paying bribes totaling more than $250 million to Indian officials in exchange for lucrative solar energy supply contracts.
Adani indicted by the US Attorney!
— Eric Muriuki (@Benign_Overlord) November 21, 2024
But CS Davis Chirchir was telling the country how Adani is clean and has never engaged in any illegalities?? pic.twitter.com/qImeWcDSQ1
The transactions were expected to yield more than $2 billion in after-tax earnings over a 20-year period.
None of the numerous defendants listed in the lawsuit is in custody.
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“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,” the statement added.
Know more: https://t.co/uNYlCaBbtk pic.twitter.com/fQ4wdJNa9d
— Adani Group (@AdaniOnline) November 21, 2024
“We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws.”
According to the US Attorney’s Office, the contracts were supposed to generate Ksh.259 billion in profit.
In response, the Adani Group disputed the bribery claims and described them as ‘baseless.’
Adani Group Breaks Silence On US Bribery Claims, Calls Them ‘Baseless’
