Tue Apr 29 13:08:26 UTC 2025: ## Adani Green Energy Clears Itself of Regulatory Non-Compliance in US Bribery Case

**New Delhi, April 29, 2025** – Adani Green Energy (AGEL) announced today that an independent review into allegations of bribery, which led to the indictment of its founder chairman Gautam Adani and two executives in a US court, found no irregularities or non-compliances.

The November 2024 indictment by the US Department of Justice (DoJ) accused Adani, his nephew Sagar Adani, and managing director Vneet S Jaain of a scheme to bribe Indian officials to secure lucrative solar energy contracts, concealing the plan from US investors while raising funds. The DoJ alleges that between 2020 and 2024, senior executives from AGEL, Azure Power, and Canadian investor CDPQ engaged in bribery and misrepresented anti-bribery practices to secure billions of dollars in financing. The SEC filed a parallel civil complaint.

AGEL maintains that its holding company, while not named as a defendant, cooperated fully and commissioned independent law firms to conduct a thorough review. This review, according to AGEL’s FY25 earnings announcement, found no evidence of regulatory violations. The company insists it has made all appropriate disclosures to US investors, including in bond offering circulars. The Adani Group continues to deny all allegations as baseless and plans to pursue legal action. The matter remains pending further legal proceedings.

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