The U.S. indictment of Gautam Adani, the founder of Adani Green, and other senior executives of the company for paying $265 million in bribes for power contracts has been reviewed by independent law firms, Adani Green announced late on Thursday.
In November, U.S. authorities indicted Adani, his nephew and Executive Director Sagar Adani, and Managing Director Vneet S. Jaain. The indictment alleged that they paid bribes to secure Indian power supply contracts and misled U.S. investors during fundraises in India.
The Adani Group has refuted the allegations, characterizing them as “baseless.”
Adani Green did not provide any additional information, including the identities of the law firms.
The company has not been named as a defendant in the indictment and civil complaint, and it has verified that it has made all necessary disclosures in the past, including in bond offering circulars, it stated.
The company’s compliance with relevant laws and regulations is maintained by Adani Green’s management, it was further stated.
