Adani Group said that the “misconceived” understanding of the US indictment led to “incorrect and reckless reporting” about the three company directors.
Adani Group chairman Gautam Adani, his nephew Sagar Adani, and senior executive Vneet Jaain are not involved in any bribery case, according to the US Department of Justice, the Adani Group said today. Adani Green, a company in the Adani Group, has also termed media reports on this “incorrect” in its latest stock exchange filing.
“Mr. Gautam Adani, Mr. Sagar Adani, and Mr. Vneet Jaain have not been charged with any violation of the FCPA in the counts set forth in the indictment of the US DOJ or civil complaint of the US SEC (EXPAND),” the Adani Group said in a statement. FCPA refers to the US Foreign Corruption Practices Act.
The Department of Justice’s indictment includes five counts but does not mention the names of the three directors, Gautam Adani, Sagar Adani, and Vneet Jaain, in the first and fifth counts relating to conspiracy to violate the FCPA and conspiracy to obstruct justice, it said.
The Adani Group statement said that a “flawed understanding” of the US indictment by various media, foreign as well as Indian, has led to “incorrect and reckless reporting” that the three Adani Group directors faced corruption and bribery charges.
The US indictment relies only on claims that bribes were discussed or promised. The group said it did not offer evidence that Indian government officials received bribes from Adani executives.
Senior lawyer Mukul Rohatgi later said in a press conference that there’s no detail in the chargesheet about who has been bribed.”.
