Adani Group's Gautam Adani to Address U.S. Bribery Allegations Amid $500 Million Sri Lanka Project Review

Nov 24, 2024, 02:40 PM

The Adani Group is preparing to respond to bribery allegations raised by U.S. authorities, pending legal review and counsel approvals. U.S. prosecutors face significant legal and diplomatic challenges in their efforts to imprison Gautam Adani, a prominent Indian billionaire and ally of Prime Minister Narendra Modi. The situation is further complicated by a U.S. agency's ongoing due diligence regarding a port development project in Sri Lanka, which involves over $500 million in funding from the agency. This review is occurring amid the corruption allegations against Adani and senior executives of the Adani Group. The group has publicly denied the allegations, asserting that they are unfounded and linked to minor issues.