New Delhi, November 27, 2024 – The Adani Group has denied allegations of bribery involving its chairman, Gautam Adani, his nephew, Sagar Adani, and senior executive Vneet Jaain, as per a U.S. Department of Justice (DoJ) indictment. The group clarified that no bribery or corruption charges have been filed against its executives, stating that the allegations pertain to Azure Power officials and its investor, CDPQ, not the Adani Group.
In its response, the company emphasized its commitment to transparency and criticized media reports for misrepresenting the facts. It asserted that no direct evidence links Adani executives to bribery, attributing the claims to unverified accounts from unrelated sources.
Despite these clarifications, the controversy has caused significant financial losses for the Adani Group, with stock valuations plunging and market capitalization suffering a substantial hit. This adds to the previous challenges the conglomerate has faced in recent times.
The Adani Group reiterated its commitment to ethical operations and compliance across jurisdictions. It also announced plans to pursue legal remedies to protect its reputation and reassure stakeholders of its governance standards.
