- Adani Green Energy Ltd. (AGEL) confirms no bribery charges against Gautam Adani, Sagar Adani, or Vneet Jaain in the US DOJ indictment.
- The charges focus on executives from Azure Power and CDPQ, not Adani officials.
- AGEL criticized media reports for spreading misinformation and emphasized no evidence links Adani executives to wrongdoing.
Adani Green Energy Ltd. (AGEL) has clarified that Gautam Adani, Sagar Adani, and Vneet Jaain have not been charged under the US Foreign Corrupt Practices Act (FCPA). The US Department of Justice (DOJ) indictment does not include any allegations of bribery or corruption against these Adani officials.
The indictment centers on alleged misconduct by executives from Azure Power and Canadian investor CDPQ. Adani executives are not named in the charges related to conspiracy, bribery, or obstruction of justice. AGEL criticized inaccurate media reports suggesting otherwise, calling them “reckless” and misleading.
Despite the clarification, the Adani Group faces significant fallout, including project cancellations and a $55 billion drop in market capitalization across its listed entities. The group emphasized the lack of substantial evidence against its executives and vowed to address the scrutiny.
