Adani Group Refutes Bribery Charges Amid US Indictment

The Adani Group has issued a robust rebuttal to allegations of bribery following the release of a US Department of Justice (DoJ) indictment. The indictment, which became public last week, suggested a conspiracy involving $265 billion (₹2,029 crore) in bribes to secure power purchase agreements with the Solar Energy Corporation of India (SECI).

Adani Green Energy Limited (AGEL), in a regulatory filing, clarified that Gautam Adani, Sagar Adani, and Vneet Jaain had not been charged with bribery or violations of the Foreign Corrupt Practices Act (FCPA). The charges against them reportedly pertain only to alleged securities fraud and wire fraud connected to international loans and bond issuances.

Legal experts have also weighed in, noting the absence of the Adani executives’ names in the counts involving bribery and destruction of evidence. Former attorney-general Mukul Rohatgi and Supreme Court counsel Mahesh Jethmalani have described the indictment as weak and potentially driven by ulterior motives.

While the SEC has alleged a “massive bribery scheme,” the Adani Group maintains its innocence, asserting that no fines or penalties have been specified against them.
The case continues to draw attention, with both legal and political implications under scrutiny.