New Delhi, Nov 27 (EFE).- Indian company Adani Green Energy Ltd., part of the Adani Group conglomerate, said on Wednesday that its founder, Gautam Adani, and another two executives accused by the US Securities and Exchange Commission (SEC) of allegedly orchestrating a bribery scheme have not been charged with violating the US Foreign Corrupt Practices Act.
In a statement, Adani Green listed and denied several American and Indian media reports that mention the charges against the Indian tycoon and two other directors of the group, including his nephew, of violating the Foreign Corrupt Practices Act (FA) of the US.
Media articles stating that “certain of our directors namely Mr. Gautam Adani, Mr. Sagar Adani and Mr. Vneet Jaain have been charged with violation(s) of the US Foreign Corrupt Practices Act (“FA”) in the indictment…are incorrect,” the company clarified.
“These directors have been charged on three counts in the criminal indictment namely (i) alleged securities fraud conspiracy, (ii) alleged wire fraud conspiracy, and (iii) alleged securities fraud,” it added.
The case involving Adani, considered a close ally of Indian Prime Minister Narendra Modi, has sparked political discussions in the Asian country, that have caused delays in the holding of parliamentary sessions in New Delhi due to the opposition’s interest in discussing the details of the case in the chambers.
On Monday, French oil giant TotalEnergiessaid that it would not make new investments in Adani companies until the accusations against the Indian group’s leaders in the US were resolved.
Adani Green asserted that the position of the French oil giant would not have any material impact on the company’s operations or its growth plan.
However, the shares of the different companies of the Adani conglomerate on the Indian stock market fell after TotalEnergies’ announcement.
The French firm entered Adani’s capital in January 2021 as part of its strategy to expand its renewable energy portfolio in India, acquiring stakes in three subsidiaries in 2020, 2023, and 2024.
Last week, the US Department of Justice accused Adani and two of his senior executives of orchestrating a $250 million bribery scheme to secure solar energy contracts in India. EFE
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