New Delhi : Industrialist Gautam Adani's business group Adani Group has been accused by US prosecutors of paying bribes of more than US $ 250 million to Indian officials. On which the Chief Financial Officer of this group i.e. CFO Jugeshinder Robi Singh has given clarification. He has said that none of the 11 listed companies of Adani Group has been accused of any wrongdoing.
CFO Jugeshinder Roby Singh posted on Twitter that the group could make a detailed comment on the allegations made by the US after getting the approval of the lawyer. Singh has said that there are many such reports in which an attempt has been made to make headlines by raising unrelated items. My humble request is that we will respond in a timely manner after a detailed review of the matter presented in the legal process.
Information received 2 days ago
He also said that no court has ruled on the charges, and as US Justice Department lawyers have pointed out, these are allegations and the accused are likely to be innocent. He further said that the group apparently came to know about the US indictment against founder and chairman Gautam Adani 2 days ago.
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Disclosure of 144A Offering Circular
The CFO has said that we knew something was going on i.e. in February 2024 we disclosed the 144A offering circular in the risk factors. However, he did not say what the company had disclosed in February 2024. He said Adani Group has a portfolio of 11 public companies and none of them is under prosecution. That means these companies are not defendants in any legal proceedings recently filed by the lawyer in a New York court. He said that these allegations relate to a contract of Adani Green, which is about 10 percent of Adani Green's total business. Singh said that there are many more precise and comprehensive details about this, which we will elaborate on at the appropriate forum.
denied the allegations
Gautam Adani has been accused by US prosecutors of being part of a conspiracy to pay bribes of more than US $ 250 million (about Rs 2,100 crore) to Indian officials in exchange for favorable terms for solar energy contracts. Adani Group had on Thursday denied the allegations, saying that the allegations by US prosecutors are baseless and the group is complying with all laws.
(with agency input)
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