Adani Green Reviews U.S. Indictment Allegations with Independent Legal Experts
Adani Green appoints independent law firms to review bribery and investor misrepresentation allegations against top executives, reaffirming compliance and transparency.
Adani Green Energy, a leading renewable energy company in India, has announced the appointment of independent law firms to evaluate allegations made in a recent U.S. indictment. The charges implicate the company’s founder Gautam Adani, Executive Director Sagar Adani, and Managing Director Vneet S. Jaain in a $265 million bribery scheme to secure power contracts in India and for allegedly misleading U.S. investors during fundraising campaigns.
In a statement issued on Thursday, Adani Green clarified that it is not a named defendant in either the criminal indictment or the related civil complaint. The company also confirmed that it has adhered to all disclosure requirements, including those outlined in its bond offering documents.
The Adani Group has categorically rejected the accusations, describing them as "unfounded." Despite the gravity of the claims, the names of the independent law firms tasked with conducting the review were not disclosed.
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Adani Green reaffirmed its commitment to legal and regulatory compliance, emphasizing that its operations remain transparent and in line with global standards. "Our management continues to ensure that the company complies with all applicable laws and regulations," the statement added.
These developments stem from a November indictment by U.S. authorities, which has put the Adani Group under international scrutiny. By engaging independent legal counsel, Adani Green seeks to demonstrate its commitment to transparency and address the concerns raised by these serious allegations.
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Also Read: Adani Group CFO Denies $265 Million Bribery Allegations | Company Responds to U.S. Charges
