The Adani Group has clarified that there are no bribery charges against them in the U.S. indictment case. Adani Group Chairman Gautam Adani, his nephew Sagar Adani, and senior executive Vineet Jain stated this in a recent stock exchange filing, calling the media report "incorrect."

The Adani Group stated, "Mr Gautam Adani, Mr Sagar Adani and Mr Vneet Jaain have not been charged with any violation of the FCPA in the counts outlined in the indictment of the US DOJ or civil complaint of the US SEC.” FCP is a US Foreign Corruption Practices Act.

The U.S. Department of Justice indictment includes five counts. However, it clarifies that the first and fifth counts, conspiracy to violate the Foreign Corrupt Practices Act (FCPA) and conspiracy to obstruct justice, do not involve the three directors, Gautam Adani, Sagar Adani, and Vineet Jain.

The Adani Group statement reads that the "incorrect and reckless reporting" about the three Adani Group directors facing corruption and bribery charges stemmed from a "flawed understanding" of the U.S. indictment." According to the Adani Group, the U.S. indictment only discusses discussions or promises of bribes, but it doesn't provide any evidence that Indian government officials actually received bribes from Adani executives. Senior lawyer Mukul Rohatgi later stated in a press conference that the charge sheet does not mention who was allegedly bribed.

Adani Group stated, “The ill-founded US action and reckless false reporting have led to significant repercussions for the Indian conglomerate, such as international project cancellations, financial market impact, and sudden examination from strategic partners, investors, and the public.”

Case details against Adani

Adani, along with his nephew Sagar Adani and Vneet Jaain, faces accusations of conspiring to commit securities and wire fraud. Federal prosecutors in Brooklyn allege that the group was involved in a multi-billion-dollar bribery scheme, paying over $250 million to Indian government officials.

The U.S. Securities and Exchange Commission (SEC) has also filed civil charges, claiming Adani and his associates orchestrated the bribery to secure a solar energy project from the Indian government. The allegations state that Adani Green sought $175 million from U.S. investors as part of the scheme, with Azure Power's stock listed on the New York Stock Exchange.