ADVERTISEMENTs
Adani says no one from group charged with FCPA violation, obstructing justice
Last year, federal prosecutors in Brooklyn unsealed an indictment accusing the Adanis of bribing Indian officials to purchase electricity from Adani Green Energy.
-
Reuters - Tue, 24, Jun 2025
- 02:47 EDT
- 16
Gautam Adani attends the 51st Gems and Jewellery Awards in Jaipur, India, November 30, 2024. / Reuters/Stringer
No one from Adani Group has been charged with violating U.S. Foreign Corrupt Practices Act (FCPA) or conspiring to obstruct justice, Chairman Gautam Adani said, while addressing shareholders on June 23.
The billionaire’s remarks follow indictments by U.S. authorities against Gautam Adani and his nephew, Sagar Adani, over allegations of bribery and securities fraud.
According to court filings, the two are accused of paying millions of dollars in bribes to Indian officials to secure power supply contracts for Adani Green Energy, a subsidiary of the Adani Group, while misleading U.S. investors about the company's anti-bribery compliance during a $750 million bond offering.
The U.S. Securities and Exchange Commission (SEC) has summoned both men, alleging they misrepresented the company’s anti-corruption practices. Reuters reported that the SEC had earlier sought assistance from India’s Ministry of Law and Justice in its investigation into a $265 million bribery scheme.
Last year, federal prosecutors in Brooklyn unsealed an indictment accusing the Adanis of bribing Indian officials to purchase electricity from Adani Green Energy and providing false assurances to investors about the company’s integrity and compliance policies.
Related
.jpg)
 (1).jpg)
.jpg)
.jpg)
.jpg)
.JPG){kind=spacer}
.JPG){kind=spacer}
ADVERTISEMENT
ADVERTISEMENT
E Paper
Video
Comments
Start the conversation
Become a member of New India Abroad to start commenting.
Sign Up Now
Already have an account? Login