Adani Group Responds to US Bribery Charges
The Adani Group, an Indian conglomerate, has responded to recent bribery charges filed by US authorities. The charges allege that the group, including Chairman Gautam Adani, participated in a $265 million bribery scheme to secure Indian power supply contracts and misled US investors.
Adani Group CFO Jugeshinder Singh stated that individuals accused in the scheme, including Gautam Adani, would clarify matters with the US Department of Justice within 10 days. He expressed confidence that the charges would not impact the group's investment plans in logistics and energy.
The Ministry of External Affairs (MEA) clarified that the Indian government was not informed in advance by US prosecutors about the charges against Adani and others. The MEA emphasized that it is a legal matter involving private firms and individuals and the US Department of Justice.
The Adani Group has denied the accusations and stated that it will seek all legal recourse. The group claims that there were no bribery charges against Gautam Adani and other group executives and that its portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least the next 12 months.