- Adani CFO says US bribery charges only involve one Adani Green contract, not affecting the group’s 11 public companies.
- CFO Jugeshinder Robbie Singh disclosed that the group became aware of the charges only two days ago.
- Adani Group denies any wrongdoing, claiming media reports may misinterpret the details.
Adani CFO Jugeshinder Robbie Singh clarified that the recent U.S. bribery charges, which allege a $265 million bribe to Indian officials, specifically concern a single Adani Green contract, making up just 10% of the company’s business. Singh emphasized that none of the group’s 11 public companies are part of the legal proceedings, and none are accused of any wrongdoing.
Singh said the group was aware something was unfolding but learned the full details of the charges only two days ago. He assured that once the company receives legal counsel’s approval, they would issue a more detailed statement. Despite media reports suggesting broader involvement, Singh confirmed the charges were tied to one contract and would be addressed in detail soon.
Adani Group has faced significant scrutiny after U.S. prosecutors charged several executives, including Gautam and Sagar Adani, in connection with a $2 billion bribery scandal tied to solar energy contracts. The SEC claims the bribes were paid to secure lucrative deals, but Adani insists these reports misrepresent the situation.
Hi All,
You would have seen a lot of news in the last 2 days re @AdaniOnline matters. This specifically relates to one contract of #adanigreen which is roughly 10% of overall business of Adani Green(there is a lot more precise & comprehensive detail of this which we will…— Jugeshinder Robbie Singh (@jugeshinder) November 23, 2024
