Adani Group Rejects US Department of Justice Allegations as Baseless

New Delhi: The Adani Group has strongly dismissed the allegations made by the U.S. Department of Justice and the U.S. Securities and Exchange Commission (SEC) against the directors of Adani Green. The company termed all the accusations as baseless and stated that the group has always complied with all applicable laws.

In a statement released on Thursday, a spokesperson for Adani Group refuted the bribery charges made by U.S. officials. The statement asserted that the allegations were unfounded and lacked any factual basis. The spokesperson added that the group continues to fully adhere to all legal requirements. “The U.S. Department of Justice itself has stated that the charges are accusations and that defendants are presumed innocent until proven guilty,” the group said, emphasizing that it would pursue all legal avenues available to defend its position.

It is noteworthy that U.S. prosecutors have accused Gautam Adani’s Adani Group of allegedly paying $25 million in bribes to Indian officials in exchange for favorable terms to secure solar power contracts in India. Following these allegations, shares of Adani Group companies experienced a sharp decline, leading to a combined market capitalization drop of ₹2.45 lakh crore for its listed companies.