'Baseless, Denied' - Adani Group On US Court Order: FULL Statement

The Adani Group , on Thursday, issued a statement saying that the allegations made by the US Department of Justice are ‘baseless and denied’. In a detailed statement, Adani Group said that the company will be seeking a legal recourse. Earlier today, a US court indicted billionaire Gautam Adani and others for ‘bribery and fraud’.

Adani Group on US Court Order: FULL Statement

"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. 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. 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."

Gautam Adani charged in US with bribery, fraud - Reports

Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world's richest people, has been indicted in New York over his role in an alleged $265 million bribery scheme, according to U.S. prosecutors.

Authorities told news agency Reuters that Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay the bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years and develop India's largest solar power plant project. A judge has reportedly issued arrest warrants for Gautam Adani and Sagar Adani and prosecutors plan to hand those warrants to foreign law enforcement, court records show - Reuters said.