Brief by Shorts91 Newsdesk / 05:17am on 27 Nov 2024,Wednesday Business
Adani Green Energy Ltd (AGEL) stated that Gautam Adani, Sagar Adani, and Vneet Jaain have not been charged under the US Foreign Corrupt Practices Act (FCPA) amid reports alleging bribery. Instead, the indictment by the US Department of Justice (DOJ) includes allegations of securities fraud conspiracy, wire fraud conspiracy, and securities fraud. Senior advocate Mukul Rohatgi confirmed that the charges do not pertain to bribery or corruption, emphasizing misleading media claims. AGEL reiterated its commitment to addressing inaccuracies, noting that reports about bribery for Indian solar power contracts lack substantiation. Adani Group shares gained following the clarification.
