Gautam Adani Addresses Allegations, Highlights Resilience

Gautam Adani, Chairman of the Adani Group, addressed recent allegations linked to an alleged bribery case in the US. Speaking at the India Gem and Jewellery Awards, he highlighted the group's resilience and success despite challenges, emphasizing on integrity, operational excellence, and the importance of pioneering bold visions.

In a firm rebuttal to recent allegations leveled against the Adani Group, Chairman Gautam Adani asserted the strength and resilience of his conglomerate during a speech at the 51st India Gem and Jewellery Awards in Jaipur. Addressing the claims of non-compliance practices at Adani Green Energy by US authorities, Adani emphasized that past challenges have fortified the group.

Highlighting historical allegations, including a short-selling attack by US-based Hindenburg, Adani described these as attempts that targeted both financial stability and sparked political controversies. Despite the obstacles, the Adani Group raised 20,000 crore rupees through a successful Follow-on Public Offering, and later returned the proceeds, further reinforcing the group's financial integrity by lowering its Debt to EBITDA ratio.

Reflecting on long-term resilience, Adani cited the Adani Group's record-breaking financial performance and successful international ventures like the coal mine in Australia. The chairman communicated acceptance of challenges as part and parcel of pioneering innovation, urging the incorporation of technology, sustainability, and youth empowerment to shape India's future trajectory.

(With inputs from agencies.)