Adani Group Denies Wrongdoing Amid US Bribery Allegations

The Adani Group, under CFO Jugeshinder Singh, refutes allegations of bribery involving its chairman Gautam Adani and other executives, as per a US indictment. The charges relate to alleged bribes for solar energy contracts. The conglomerate denies any corporate wrongdoing and plans to seek legal recourse.

The Adani Group has firmly denied any wrongdoing following allegations of bribery against its chairman Gautam Adani and executives in a US court filing. Jugeshinder Robbie Singh, the conglomerate's CFO, clarified on X that none of the group's 11 listed companies are implicated in the charges.

The US indictment suggests Adani and several defendants, including Sagar Adani, agreed to pay USD 265 million in bribes to secure profitable solar energy contracts. However, Singh emphasized that the allegations are unproven and that the accused have a presumption of innocence.

Despite the serious nature of the charges, Adani Group maintains its innocence and intends to pursue legal remedies. The company has outlined that the indictment pertains to a single Adani Green contract, which constitutes a small portion of its overall business.

(With inputs from agencies.)