The Adani Group has firmly rejected the charges filed by US prosecutors that its chairman, Gautam Adani, paid over $250 million in bribes to Indian officials in exchange for favorable terms on solar power contracts. In a statement issued on Thursday, the conglomerate described the accusations as “baseless” and reaffirmed its commitment to legal compliance and transparency.
Details of the Bribery Allegations
US prosecutors allege that Gautam Adani played a central role in a scheme to pay bribes to secure government contracts, specifically related to solar power projects in India. The charges suggest that Adani and his co-conspirators made extensive use of electronic communication to coordinate their bribery efforts, including using apps to track payments and locations. They also reportedly used code names, with Adani referred to as “Mr. A” and “numero uno,” and discussed payment options in PowerPoint and Excel presentations.
Moreover, the scheme allegedly included a “Development Fee” payment directly to an Indian energy company. The co-conspirators are said to have met in person and used technology to document the bribes, including photographs of a document detailing the amounts promised. In an attempt to hide their actions, some participants allegedly destroyed evidence.
Adani Group’s Response and Commitment to Governance
In its response, an Adani Group spokesperson pointed to the US Department of Justice’s statement emphasizing that the charges are only allegations and that the defendants are presumed innocent until proven guilty. The spokesperson stressed that the Adani Group has always upheld the highest standards of governance, transparency, and regulatory compliance, assuring stakeholders that it remains fully committed to adhering to all applicable laws. The group further stated that it is a law-abiding organization, and its operations remain in full compliance with the regulations in every jurisdiction.