In the latest response to allegations against Adani Group, Adani Green Energy Ltd (AGEL) issued a clarification on Wednesday, saying it has filed bribery charges against Gautam Adani, Sagar Adani and senior executive Vineet Jain by the US Department of Justice (DOJ). There is no allegation. However, the company acknowledged that the executives face three other charges, including securities fraud and wire fraud, as outlined in the indictment.
allegations against adani
Adani Green Energy Limited (AGEL) has issued a statement clarifying that Gautam Adani, Sagar Adani and senior executive Vineet Jain have not been accused of violating the US Foreign Corrupt Practices Act (FCPA). This comes after media reports suggested the contrary, which the company has denied.
Clarification from Adani Green
In its official statement, AGEN addressed the claims made in some media articles. The statement from Adani Green Energy Limited said “Mr. Gautam Adani, Mr. Sagar Adani and Mr. Vineet Jain have not been charged with any violations of the FCPA in the matters set forth in the U.S. DOJ’s indictment or the U.S. SEC’s civil complaint. These directors are charged with three counts in the criminal indictment. have gone, (i) Alleged securities fraud conspiracy (ii) alleged wire fraud conspiracy, and (iii) alleged securities fraud.
The company highlighted that the indictment by the US Department of Justice (DOJ) and the civil complaint filed by the US Securities and Exchange Commission (SEC) do not include allegations of bribery or corruption against these individuals.
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charges mentioned in the indictment
AGEL’s statement specified the allegations in which the directors were named. According to the company, the criminal indictment lists three charges against Gautam Adani, Sagar Adani and Vineet Jain:
Alleged securities fraud conspiracy
Alleged wire fraud conspiracy
alleged securities fraud
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The company reiterated that these allegations do not relate to any violations of the FCPA.
AGEL rejected the reports circulated in the media as misleading. The company said that issuing this clarification was necessary to prevent the spread of misinformation. The media reports had caused a stir, leading to speculation about the possible impact on the Adani Group. However, AGEL’s clarification is intended to remove doubts about the nature of the allegations.
Senior advocate and former Attorney General Mukul Rohatgi on Wednesday said Gautam Adani and his nephew have not been accused of violating the US Foreign Corrupt Practices Act (FCPA) in the indictment filed by US prosecutors in the bribery case. Briefing the media, Rohatgi said the allegations mentioned that Adani paid bribes to Indian entities for solar power contracts, but did not mention how the bribes were paid.
Rohatgi said “There are 5 charges in this indictment. But 1 and 5 are more important than the others. Gautam Adani and his nephew have not been charged under the FCPA (1), which is like India’s Prevention of Corruption Act. They are Some foreigners have also not been accused of obstructing justice.
