Suspense Crime Sach Ka Dam
None of the 11 listed companies of the Adani Group has been accused of any wrongdoing. Adani Group Chief Financial Officer (CFO) Jugeshinder Robi Singh said this on the allegations of the group’s founder and chairman Gautam Adani’s involvement in the bribery case in the US. Singh posted on X that the group will make a detailed comment on the US indictment after getting the approval of the lawyer. Singh said, “There are many reports in which an attempt has been made to make headlines by raising unrelated items. My humble request is that we will respond in time after a detailed review of the matter presented in the legal process.
No court has passed a judgment on the indictment.
He also said that no court has ruled on the indictment and as US Justice Department lawyers have pointed out, these are “allegations and the accused have a presumption of innocence.” He further said that the group came to know about the US indictment against founder and chairman Gautam Adani two days ago. The CFO said, “We knew something was going on (and in February 2024 we disclosed the 144A offering circular in the risk factors.)” He, however, did not reveal what the company had disclosed in February 2024.
None of the 11 public companies are under prosecution.
He said that the Adani Group has a portfolio of 11 public companies and none of them is under indictment. That is, these companies are not defendants in any legal proceedings filed by the lawyer in a New York court recently. He said that the indictment relates to a contract of Adani Green, which is about 10 percent of Adani Green’s total business. Singh said that there are many more accurate and comprehensive details about this, which we will explain in detail on the appropriate platform.
What are the allegations?
Gautam Adani has been accused by US prosecutors of being part of a conspiracy to pay bribes worth more than US$250 million (about Rs 2,100 crore) to Indian officials in exchange for favorable terms for solar power contracts. The Adani Group on Thursday denied these allegations, saying that the allegations of US prosecutors are baseless and the group is complying with all laws.
