'Incorrect and reckless reporting': Adani Group refutes allegations against Gautam Adani, his nephew Sagar Adani and Vneet Jaain, says no FCPA charges

Amidst continuous attacks by the opposition parties over the indictment of Adani Group chairman Gautam Adani, his nephew Sagar Adani and over allegations of bribery in a New York district court, Adani Group refuted the misleading reporting done in media and by some political parties. “Media articles which state that certain of our directors namely Gautam Adani, Sagar Adani and Vneet Jaain have been charged with violation of the US Foreign Corrupt Practices Act in the indictment. Such statements are incorrect,” said the statement by Adani Green Energy Ltd. “Gautam Adani, Sagar Adani and 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,” it added. The filing states that the DoJ Indictment, which has five counts, does not have any mention of and has excluded Gautam Adani, Sagar Adani or Vneet Jaain in Count One: ”Conspiracy to Violate the FCPA’; neither does it have mention of these three names in Count Five: “Conspiracy to obstruct justice” The Count One of the indictment, which refers to the corruption and bribery charges, only involves Ranjit Gupta, Cyril Cabanes, Saurabh Agarwal, Deepak Malhotra and Rupesh Agarwal of Azure Power and CDPQ. However, flawed understanding of the DoJ indictment by various media—foreign as well as Indian— has led to incorrect and reckless reporting of Adani Directors of being charged with corruption and bribery under or of all five counts by the US DoJ and SEC.” The statement says that Adani officials are named in charges only for Count 2: “Alleged securities fraud conspiracy”, Count 3:” Alleged wire fraud conspiracy”, and Count “Alleged securities fraud.” The AGEL said that the US DoJ Indictment offers no evidence that bribes were paid by Adani executives to Indian government officials, the indictment and the complaint solely rest on claims that bribes were promised or discussed.