- Gautham Adani-led conglomerate released an official statement denying allegations by the US Department of Justice and market watchdog SEC
- Opposition leader Rahul Gandhi accuses the billionaire industrialist of breaking Indian and US laws
- The law will take its course: Sambit Patra, BJP leader
NE BUSINESS BUREAU
AHMEDABAD/NEW DELHI, NOV 21
Reacting to the US indictment against chairman Gautam Adani and eight others regarding an alleged Rs 21,000-crore bribery and fraud scheme, Adani Group on Thursday released a statement that they are ‘baseless.’
If there is one person on Earth who stands as the embodiment of unbreakable tenacity, unshakeable grit, relentless determination and the courage to stay true to his beliefs, it is Donald Trump. Fascinating to see America’s democracy empower its people and uphold the nation's… pic.twitter.com/oCztiexw4b
— Gautam Adani (@gautam_adani) November 6, 2024
“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless,” read the official Adani statement. The Adani statement also doubled down on the US Department of Justice’s mantra of “the defendants are presumed innocent unless and until proven guilty.”
With assurances that “all possible legal recourse will be sought”, Adani reiterated that the company was a “law-abiding organisation, fully compliant with all laws.”
“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,” a company spokesman said.
Calling for the immediate arrest of Gautam Adani, opposition leader Rahul Gandhi accused the billionaire industrialist of breaking Indian and US laws. He also alleged that Adani was safe as long as the ruling Modi government deemed it so. Gandhi also sought the immediate removal of SEBI chairperson Madhabi Puri Buch from her post.
The indictment against Gautam Adani and eight others—including nephew Sagar Adani—was unsealed on Wednesday in the US District Court in the Eastern District of New York. The US Department of Justice indicted Adani and the other key members for allegedly tricking investors by bribing Indian officials to secure a significant solar energy project for Adani Green Energy.
“Gautam and Sagar Adani induced US investors to buy Adani Green bonds through an offering process that misrepresented not only that Adani Green had a robust anti-bribery compliance program but also that the company’s senior management had not and would not pay or promise to pay bribes,” said Sanjay Wadhwa, acting director of SEC’s Division of Enforcement in the official statement by the US market watchdog.
Modi and the government have not commented on the issue yet. Sambit Patra, a leader of the governing Bharatiya Janata Party (BJP), dismissed the accusations against Modi and said that it was up to the Adani Group to “issue a statement and defend itself”.
“The law will take its course,” he said.
Opposition parties have long demanded a joint parliamentary investigation into the Hindenburg allegations against the Adani Group. They are expected to raise the issue when the Winter Session of Parliament begins next week.
