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Adani Group: No Bribery Charges in US DoJ Indictment Against Gautam Adani, Nephew

Nov 27, 2024, 03:58 AM

The Adani Group has clarified that its Chairman Gautam Adani, his nephew Sagar Adani, and executive Vneet Jaain have not been charged with bribery or violations of the US Foreign Corrupt Practices Act (FCPA) in the recent US Department of Justice (DoJ) indictment. This statement comes in response to allegations made in a US court. Senior lawyer Mukul Rohatgi, who has reviewed the indictment, confirmed that neither Gautam nor Sagar Adani are named in the charges related to the FCPA. The indictment instead focuses on other officials from Azure and CDPQ. Rohatgi also noted that there is no detail in the chargesheet regarding who has been bribed, indicating a lack of direct evidence against the Adani Group. Following the clarification, Adani Group stocks experienced a stellar recovery.