Adani Group breaks silence over bribery charges in US
Indian firm Adani Group has refuted bribery charges in the United States against the company's directors as baseless
Indian firm Adani Group has refuted bribery charges in the United States against the company’s directors as baseless.
In a statement on Thursday, November 21, the firm’s spokesperson noted that Adani will seek all legal avenues in handling the matter.
“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied.
“As stated by the US Department of Justice itself, ‘the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.’ All possible legal recourse will be sought,” read part of the statement.
According to the Adani spokesperson, the company is a law-abiding organization that has upheld highest standards of transparency and regulatory compliance across all jurisdictions of its operations.
“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.”
The statement comes after U.S. media outlets reported that Adani founder Gautam Adani and other directors of the firm have been indicted in a New York court in a multi-billion bribery scheme.
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The reports indicated that the directors were accused of paying Indian government officials USD250 million (approximately Ksh32 billion) to secure solar energy contracts and later concealed the deal to raise money in the U.S. to fund the contracts.
Recently, Kenya Electricity Transmission Company Limited (KETRACO) and Adani Energy Solutions signed a Ksh95 billion deal to build and operate power transmission lines in the country.
Energy CS Opiyo Wandayi has affirmed that the KETRACO-Adani project will proceed despite the charges against Adani directors.
“The Public-Private Partnership (PPP) Directorate which is domiciled in the National Treasury, in coordination with KETRACO, conducted a due diligence exercise on Adani Energy Solutions. We had no knowledge of any adverse matters that could have come light. And therefore, we are proceeding on the basis of the outcome of the legal due diligence exercise that was undertaken by the contracting authority in line with the law,” Wandayi told a Parliament committee on Thursday.
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