New Delhi: Denying charges of paying bribe to secure favourable terms for solar power contracts, Adani Group on Thursday said the allegations by US prosecutors are "baseless" and the conglomerate is a "law-abiding" organisation, "fully compliant" with all laws.
"The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied," the group spokesperson said in a statement, adding that all possible legal recourse will be sought.
Billionaire Gautam Adani has been charged by US prosecutors for allegedly being part of a scheme to pay over USD 250 million (about Rs 2,100 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts.
Commenting on the development, the Adani spokesperson pointed to the US Department of Justice statement that said "the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty".
"The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws," the spokesperson added.
Earlier today, Adani Green Energy postponed the proposed USD-denominated bond offerings against the backdrop of US prosecutors charging the Adani Group Chairman Gautam Adani and other Indian executives with an alleged bribery scheme.
In a statement, Adani Green Energy Limited said: “The United States Department of Justice and the United States Securities and Exchange Commission have issued a criminal indictment and brought a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against our Board members, Gautam Adani and Sagar Adani.".
“The United States Department of Justice have also included our Board member, Vneet Jaain, in such criminal indictment. In light of these developments, our subsidiaries have presently decided not to proceed with the proposed USD denominated bond offerings,” it said.
Read More
