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An Adani Group spokesperson said in a statement that the allegations made against Adani Green directors by the US Department of Justice and the US Securities and Exchange Commission are baseless and refuted.
The clarification has been issued by the company in response to charges filed by US prosecutors against Adani Group Chairman Gautam Adani and other Indian officials accusing them of involvement in an alleged bribery scheme. An Adani Group spokesperson said in a statement that the allegations made against Adani Green directors by the US Department of Justice and the US Securities and Exchange Commission are baseless and refuted.
It further states that as the U.S. Department of Justice itself has stated, “The charges in an indictment are allegations and defendants are presumed innocent unless and until proven guilty.” Every possible legal recourse will be taken. Others charged along with Adani include his nephew Sagar Adani, executive director of Adani Green Energy, and Vineet Jain, who was the company's chief executive officer. Jain was the CEO of the company from 2020 to 2023 and is the managing director on its board of directors. Sixty-two-year-old Adani was charged on Wednesday with conspiracy to commit securities fraud.
Two cases have been filed against him in federal court in Brooklyn. The case pertains to bribery of officials for selling 12 gigawatts of solar power to the Government of India for Adani Green Energy Limited and another company. The indictment charges Adani and others with paying or planning to pay bribes to government officials totaling approximately $265 million to secure billions of dollars of contracts and funding in India.
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