2 weeks Ago
In its first detailed response to the US authorities’ indictment, the Adani group has clarified that there are no bribery charges against billionaire Gautam Adani , his nephew Sagar Adani, and Vneet Jaain, as per the US Department of Justice indictment. In a statement to the exchanges, Adani Green Energy said that neither the Adanis nor Jaain has been charged with any violation of the Foreign Corrupt Practices Act “in the counts set forth in the indictment of the US DOJ or the civil complaint of the US SEC.” It clarified that, in the criminal indictment, the directors have been charged on three counts: alleged securities fraud conspiracy, alleged wire fraud conspiracy, and alleged securities fraud.
It added that only officials of Azure Energy and Canadian institutional investor Caisse de depot et placement du Quebec (CDPQ) had been charged with bribery in the US indictment. In a media statement, the Adani group said that since the intimation of the US DoJ Indictment, the group has suffered a loss of nearly $55 billion in its market capitalisation across its 11 listed companies. Comments.
