Wed Nov 27 11:10:00 UTC 2024: ## Adani Group Rejects US Bribery Allegations, Calls Indictment “Politically Motivated”
**MUMBAI, INDIA** – The Adani Group vehemently denied allegations of bribery and violations of the US Foreign Corrupt Practices Act (FCPA) leveled against its chairman Gautam Adani, his nephew Sagar Adani, and key executive Vneet Jaain. While a US Department of Justice (DOJ) indictment alleges a $265 million bribery scheme to secure Indian solar contracts, the Adani Group insists that neither Gautam Adani nor Sagar Adani are charged under the FCPA.
The indictment, which also involves charges of securities fraud, names other Adani executives but lacks specific details regarding the alleged bribes, according to the group’s legal representatives. Former Attorney General of India Mukul Rohatgi and Rajya Sabha MP Mahesh Jethmalani characterized the allegations as lacking credible evidence and specifics, suggesting the timing and lack of detail point to a politically motivated attack.
Adani Green Energy Ltd., the entity at the center of the allegations, confirmed in a stock exchange filing that the three executives face charges related to securities fraud, but emphasize that no specific financial penalties have been quantified. The group maintains it will utilize all available legal avenues to defend itself.
Jethmalani further criticized opposition parties for exploiting the situation for political gain, suggesting the timing coincides with recent electoral setbacks for the Congress and INDIA alliance. He also speculated that Gautam Adani’s past congratulatory message to Donald Trump might have fueled the DOJ’s actions. The accusations, he argued, are part of a “political hatchet job” by a hastily acting DOJ. The Adani Group reiterated its commitment to a robust legal defense against the allegations.
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